Grant and Janet Hallahan were arrested in Tonopah, Ariz., about 50 miles west of Phoenix, Saturday, The Arizona Republic reported.
The couple admitted 12 years ago they scammed $1.2 million from family, friends and elderly people in a ponzi scheme and a tanning business scheme, said Matt Hershey, supervisory deputy U.S. marshal.
They pleaded guilty in U.S. District Court in Peoria, Ill., to bank fraud, money laundering, mail fraud and conspiracy. Arrest warrants were issued for them in 2000 when they fled Illinois, Hershey said.
U.S. marshals located the Hallahans after the TV show "America's Most Wanted" Friday aired a segment on the couple, generating a number of tips, Hershey said.
"The 12-year run from justice of the Hallahans, also known as the 'mini-Madoffs', has come to an end," U.S. Marshal David Gonzales said. "Their investment scams involving family, friends,and the elderly ruined many lives. Whether stealing with a gun or by a fast talker with an easy smile, the damage to the victim is serious and irreparable."