Ponzi Schemer Gets 4 Years For $2M Fraud

Law360, New York (August 4, 2011, 7:57 PM EDT) -- Admitted investment swindler Rachelle Griggs was sentenced Wednesday in Hawaii to four years in prison for helping her husband bilk his fellow inmates and their families out of $2 million.

The couple admitted in April that they had defrauded prisoners by persuading them and their families to invest in the defedants' company, Aloha Trading Co. Inc. In addition to spending four years in prison, Rachelle Griggs will serve three years on probation and pay back more than $1.9 million in ill-gotten gains. Her husband is scheduled...
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