Alleged $33M Ponzi Artist Asks 2nd Circ. For Acquittal

Law360, New York (September 27, 2011, 3:32 PM EDT) -- The Second Circuit should overturn the fraud conviction of a Tennessee man sentenced to 14 years in prison for allegedly funneling investor money into a $33 million Ponzi scheme, his attorney argued Tuesday.

Paul E. Knight of Kodak, Tenn., who was convicted in October 2008 of defrauding investors by stealing money he said was going to high-yield investments, is a “simple man” who thought he was selling an actual investment, attorney Mark D. Hosken said at a hearing.

“His actions were those of a man who...
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