WAYNESBORO, VA (Rocktown Now) — Two people are now in custody related to multiple alleged instances of fraud in the City of Waynesboro.
At around 2:15 PM yesterday, Waynesboro Police responded to a local bank where officers discovered that two suspects, Arlene Whitt and Michael Horton, had used a Waynesboro victim’s information to obtain access to a bank account to obtain money at multiple locations in the area beginning June 13, 2026.
The 32-year-old Whitt was arrested on 4 felony charges including three counts of Obtaining by False Pretenses and one count of Forgery.
Meanwhile, the 30-year-old Horton was charged with misdemeanor counts of Identity Theft and Providing False ID to Law Enforcement.
Both are being held without bond at Middle River Regional Jail.
Anyone with information regarding these incidents should contact Corporal Nystrom at the Waynesboro Police Department.
Investment fraud targets the human desire for financial growth by promising high returns with “low to no risk.”
- Ponzi Schemes: Named after Charles Ponzi, these schemes pay “returns” to earlier investors using the capital brought in by newer investors. There is no actual underlying business; the system collapses when new recruitment slows down.
- Pyramid Schemes: Similar to Ponzi schemes, but participants are usually required to sell a product or service. The primary “profit” comes from the recruitment fees of new members rather than actual product sales.
- Pump and Dump: Fraudsters spread false, positive rumors about a cheap stock (the “pump”) to drive up the price. Once the price peaks, they sell their shares (the “dump”), leaving other investors with worthless stock.