Mich. Man Who Ran $350M Ponzi Scheme Gets 16 Years
Edward May, 75, was charged in October 2009 with 59 counts of mail fraud. U.S. District Judge Arthur Tarnow issued the sentence.
Prosecutors sought a sentence between 15 1/2 to almost 20 years, according to their sentencing memorandum.
May had asked for a maximum of 12 1/2 years. His attorneys argued in a memo to the court that the sentence should be...
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