Ex-Cowboys Player's PE Partner Gets 10 Years For $40M Fraud

Law360, Dallas (May 3, 2013, 6:38 PM EDT) -- A Texas federal judge on Friday sentenced the former owner of private equity firm Gemstar Capital Group Inc. to 10 years in jail and nearly $17 million in restitution for securities fraud stemming from an alleged $40 million Ponzi scheme he operated with a former Dallas Cowboys player.

Jeffrey J. Skyes, 54, of San Bernardino County, Calif., allegedly worked with former Dallas Cowboy Michael Kiselak, then living in Westlake, Texas, to solicit investors to join a U.S. Treasury bill trading program for which they raised more...
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