Stinson Pleads Guilty To $17M Ponzi Scheme

Law360, New York (August 16, 2011, 5:09 PM EDT) -- Robert Stinson Jr., facing a 26-count indictment and a previous judgment of civil liability in Pennsylvania for running a $17 million Ponzi scheme through Life's Good Inc., changed his plea to guilty Monday and was taken back into custody ahead of sentencing.

The guilty plea came after the 56-year-old Stinson, whose empire of Life's Good funds was composed of six corporations, failed to contest the U.S. Securities and Exchange Commission's motion for summary judgment on civil liability in June.

"Stinson ran a company called Life’s Good...
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