Fla. Ponzi Schemer Gets 8 Years, To Pay $11.5M

Law360, New York (January 19, 2012, 8:57 PM EST) -- Florida Investment adviser David Merrick was sentenced Wednesday to 97 months in prison and ordered to pay almost $11.5 million in restitution for a Ponzi scheme that allegedly defrauded thousands of investors.

U.S. District Judge Charlene E. Honeywell also sentenced Merrick, who had pled guilty in June 2010 to one count of conspiracy to commit wire fraud and one count of money laundering, to three years of supervised release and 50 hours of community service in that period in place of a fine, according to the...
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