2nd Fraud Scheme Gets Texan 25-Year Sentence

Law360, New York (March 5, 2010, 7:13 PM EST) -- A federal judge has sentenced a Texas businessman accused of running a Ponzi scheme — his second securities scam in 10 years — to the maximum 25 years in prison Friday and ordered him to pay nearly $60 million in restitution after he pled guilty to money laundering and securities-related charges.

Judge Sam R. Cummings of the U.S. District Court for the Northern District of Texas hit Benny Lee Judah of Lubbock, Texas, with the statutory maximum jail sentence based on claims that he defrauded at...
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