Investor Cops To Hiding Income From $930M Ponzi Scheme

Law360, New York (September 27, 2011, 6:13 PM EDT) -- A Florida real estate developer has become the latest defendant to cop to charges stemming from convicted fraudster Nevin Shapiro’s $930 million Ponzi scheme, admitting he hid $12 million in commissions earned by luring more than 60 investors into the scheme, the U.S. Department of Justice announced Tuesday.

Sydney Jack Williams, 63, pled guilty to one count of subscribing to a false tax return for failing to report his earnings to the Internal Revenue Service during a hearing in the U.S. District Court for the District of...
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