NJ Woman Gets 6 Years For $50M Ponzi Scheme

Law360, New York (December 6, 2010, 8:19 PM EST) -- A federal judge on Monday sentenced a New Jersey woman to six years in prison for running a $50 million Ponzi scheme in which she told investors that she could provide strong returns from dealing in distressed real estate.

Judge Robert W. Sweet of the U.S. District Court for the Southern District of New York handed down the penalty to 58-year-old Antoinette Hodgson, acknowledging that it was higher than a guideline range of about four to five years.

“It's a tragedy all the way around,” the...
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