Tenn. Investment Adviser Gets 8 Years For $7M Fraud

Law360, New York (October 1, 2010, 1:21 PM EDT) -- A former Nashville, Tenn.-area investment adviser has been sentenced to eight years in prison for running a Ponzi scheme that scammed investors out of more than $7 million.

Judge Aleta A. Trauger of the U.S. District Court for the Middle District of Tennessee on Wednesday handed down the sentence to Michael J. Park, the former owner of Park Capital Management Group. Park was also ordered to pay nearly $7.8 million in restitution.

He is scheduled to report to prison on Jan. 7.

Park pled guilty in...
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