6th Circ. Upholds 10-Year Sentence For Ponzi Schemer

Law360, New York (September 14, 2011, 3:57 PM EDT) -- The Sixth Circuit on Wednesday affirmed a 10-year sentence given to a self-professed life and financial coach who masterminded a Ponzi scheme, saying his targeting of vulnerable individuals and use of religious language to gain his victims’ trust were aggravating factors.

The appeals court found that the Tennessee federal judge was right in sentencing Gordon Grigg, whose scheme claimed guaranteed returns from the federal government's Troubled Asset Relief Program, to 10 years in prison and a $6.15 million fine.

After Grigg pled guilty to wire and...
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