I Had A Dream': NJ Ponzi Schemer Gets 12 Years

By Carla Baranauckas

A New Jersey federal judge on Tuesday sentenced the operator of a defunct real estate investment fund to 12 years in prison, the maximum term under his plea deal for a $658 million Ponzi scheme, after considering his emotional plea for leniency that drew upon his admiration for the Rev. Dr. Martin Luther King Jr.

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