ATM Investment Schemer Gets 8 Years For $80M Ponzi Plot

Law360, New York (April 25, 2011, 6:41 PM EDT) -- An alleged orchestrator of an ATM investment scam was sentenced in New York to more than eight years in prison Monday after his November conviction for helping to run the $80 million Ponzi scheme.

U.S. District Judge Thomas P. Griesa ordered Walter Netschi to spend 100 months in prison for his November conviction on one count of conspiracy and nine counts of wire fraud, U.S. Attorney Preet Bharara said Monday.

Along with his alleged co-conspirator Vance Moore II, Netschi solicited more than $80 million worth of...
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