Ark. Attorney Cops To $47M Ponzi Scheme

Law360, New York (August 3, 2011, 7:29 PM EDT) -- An Arkansas lawyer and businessman admitted Wednesday to operating a $47 million Ponzi scheme and causing the collapse of a local bank in one of the largest cases of fraud in the state's history, according to prosecutors.

Kevin Harold Lewis, 43, copped to one count of bank fraud and faces up to 30 years in prison, though U.S. Attorney Christopher Thyer plans to request a lighter sentence of between 10 and 13 years, according to a statement. Lewis will also fork over $39.9 million in ill-gotten...
To view the full article, register now.