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Friday, July 01, 2011

73-year-old man gets 18 years for $18.5 million Ponzi scheme

The Mooresville, N.C. man promised his investors, who were mostly elderly, exorbitant returns on their investments.

He ran the Ponzi scheme from 2004 to 2008 and promised his investors that the money would be used to help private companies go public.

| Bob Cronkleton

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