$47M Ponzi Schemer Gets 10 Years, $34M Penalty

Law360, New York (December 12, 2011, 6:14 PM EST) -- An Arkansas lawyer who copped to operating a $47 million Ponzi scheme and causing the collapse of a local bank in one of the largest fraud cases in the state's history was sentenced Friday to 121 months in prison.

Kevin Harold Lewis, who admitted in August to one count of bank fraud, for which he faced up to 30 years in prison, will also be required to pay $33.8 million in restitution and undergo three years of supervised release, prosecutors said.

"This case demonstrates that the...
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