Stinson To Be Resentenced Over $17M Ponzi Scheme

Law360, Los Angeles (August 21, 2013, 4:17 PM EDT) -- The Third Circuit on Wednesday ordered that Robert Stinson Jr., who allegedly ran a $17 million Ponzi scheme, be resentenced because a lower court judge improperly applied a fraud enhancement reserved for when financial institutions are the source of a defendant's gross receipts.

The appellate court found that the fraud enhancement doesn't apply to Stinson because the money in his alleged scheme — which he operated through his Life's Good Inc. empire, consisting of six corporations — flowed from individual investors instead of financial institutions....
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