Va. man sentenced in Ponzi scheme
A Vienna resident has been sentenced to 15 years in prison for bilking online investors out of more than $17 million.
Thirty-four-year-old Byron Brown was sentenced Tuesday in U.S. District Court in Baltimore. In addition to the prison term, he was ordered to pay $9.8 million in restitution.
U.S. Attorney Rod Rosenstein says Brown used the Internet to make it look like he was running an investment management business for wealthy clients. In reality, Rosenstein says Brown was stealing millions of dollars and using it to buy a fleet of luxury cars.
According to testimony, Brown ran a series of websites with names like In God We Trust Financial Services. He presented himself as an experienced investment manager, but prosecutors say he was running a Ponzi scheme.
By
Associated Press
| December 21, 2010; 2:20 PM ET
Categories:
Crime and Public Safety, Virginia
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Posted by: rexreddy | December 21, 2010 2:39 PM | Report abuse
Va. man sentenced in Ponzi scheme
By Associated Press
A Vienna resident has been sentenced to 15 years in prison for bilking online investors out of more than $17 million.
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So when are you going to bust Al Gore and Dr. Mann for their million dollar Ponzi Scheme? All those frozen inquiring minds in Europe want to know.
Posted by: rexreddy | December 21, 2010 2:40 PM | Report abuse
Looks like we've found a commenter dumb enough to think that Climate Change = "Winter No Longer Exists." Write on, o' brilliant one.
There was a nice reference to the original Mr. Ponzi in HBO's Boardwalk Empire...
Posted by: chop1 | December 21, 2010 6:13 PM | Report abuse
Way to go, Rex, you can't seem to master the simple task of posting only once and can't make a coherent point, A real double-threat guy.
Posted by: BriBonano | December 21, 2010 9:26 PM | Report abuse
moo rex moo...just another stupid cow...shut-up and chew your cud
Posted by: underboss | December 21, 2010 9:37 PM | Report abuse
The comments to this entry are closed.
Va. man sentenced in Ponzi scheme
By Associated Press
A Vienna resident has been sentenced to 15 years in prison for bilking online investors out of more than $17 million.
##################################
So when are you going to bust Al Gore and Dr. Mann for their million dollar Ponzi Scheme? All those frozen inquiring minds in Europe want to know.