Ponzi Schemer Must Pay $18M, Serve 20 Years

Law360, New York (December 6, 2011, 10:24 PM EST) -- A Florida federal judge on Tuesday sentenced an ex-convict to 20 years in prison for his role in a four-year Ponzi scheme through which he defrauded more than 100 Florida retirees and teachers out of $22 million using fake equity funds.

James Davis Risher, 63, who pled guilty Aug. 30 to mail fraud, money laundering and engaging in an illegal monetary transaction, was also ordered to pay $17.8 million in restitution by U.S. District Judge Steven D. Merryday.

Thomas H. Ostrander, an attorney for Risher, said...
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Case Information

Case Title

Security and Exchange Commission v. Risher et al


Case Number

6:11-cv-01440

Court

Florida Middle

Nature of Suit

Securities/Commodities

Judge

G. Kendall Sharp

Date Filed

August 29, 2011


Case Title

Magistrate judge case number: 


Case Number

8:11-cr-00343

Court

Florida Middle

Nature of Suit

Date Filed

June 29, 2011

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