Calif. Investment Co. Head Gets 5 Years For Fraud

Law360, New York (February 11, 2011, 6:16 PM EST) -- A California investment firm head who admitted to running a Ponzi scheme worth more than $6 million was sentenced Friday to serve five years in prison.

Scott Bottolfson, who admittedly fleeced over 30 investors using his firm Increase Investments Inc., must also pay $6.8 million in restitution, Judge Jeffrey T. Miller of the U.S. District for the Southern District of California ordered.

After his release from prison, he must serve three years supervised release, Judge Miller said, according to the U.S. attorney for the district....
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