Promoter Of $100M Ponzi Scheme Enters Guilty Plea

Law360, New York (September 13, 2010, 2:35 PM EDT) -- Birgit Mechlenburg has pled guilty to her role in a $100 million international Ponzi scheme and agreed to serve a five-year prison term just three days before the criminal trial against her was set to commence.

Mechlenburg, 62, pled guilty Thursday to one count of conspiracy to commit wire fraud, which carries an agreed-upon sentence of five years, the maximum penalty for the wire fraud conspiracy.

The government had initially sought to bring four separate charges against Mechlenburg.

In pleading guilty, Mechlenburg admitted to her role...
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