Ponzi Schemer Appeals 9-Year, $30M Sentence

Law360, New York (September 21, 2010, 1:46 PM EDT) -- A former financial adviser convicted earlier in September of wire fraud has appealed a sentence ordering him to serve nine years in prison and pay $30 million in restitution for perpetrating an 11-year Ponzi scheme.

Enrique Villalba asked the U.S. Court of Appeals for the Sixth Circuit on Monday to re-examine his sentence and conviction on one count of wire fraud, according to a notice of appeal.

Villalba, the former owner of an investment management firm, was sentenced Sept. 8 by Judge James Gwin of the...
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