Published: Jul 23, 2010 5:36 PM EDT
Updated: Jul 24, 2010 4:30 AM EDT

ORLANDO, Fla. (AP) — A former race car driver suspected of running a more than $5 million Ponzi scheme has been arrested on additional charges in central Florida.

A Florida Department of Law Enforcement spokeswoman says Henri Zogaib was at the Orange County Jail on Friday on 26 new charges of grand theft. His bond was set at $2.2 million.

Zogaib was a driver in NASCAR's Grand-Am series. Florida law enforcement agents say he encouraged more than a dozen associates to invest in iron ore, promising returns of 40 percent but instead bilked the profits.

Authorities believed there were more involved and had been encouraging other alleged victims to come forward.

Attorney Cheney Mason had represented Zogaib in a previous case but did not know if Zogaib currently had a lawyer.