Tenn. Financial Adviser Gets 6 Years For $11M Ponzi

Law360, New York (May 23, 2011, 7:28 PM EDT) -- A Tennessee federal judge on Monday sentenced a former adviser at failed Tennessee financial services company J.C. Reed & Co. to six years in prison for swindling mostly elderly investors in an $11 million Ponzi scheme.

U.S. District Judge Aleta A. Trauger also ordered Barron A. Mathis, former vice president and portfolio manager at J.C. Reed, to pay $2.8 million in restitution.

Mathis' plea deal with federal prosecutors called for him to pay more than $1.5 million in restitution and serve between 6 1/2 and eight...
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