11th Circ. Affirms 20-Year Sentence Over $30M Ponzi Scheme

Law360, New York (September 9, 2013, 5:30 PM EDT) -- The Eleventh Circuit on Monday affirmed a 20-year prison sentence against the founder of foreign currency trading company Botfly LLC for a $30 million Ponzi scheme, finding that the lower court was justified in upping prison time beyond a plea agreement's recommendation.

Convicted Ponzi schemer David Lewalski's sentence and appeal involved a letter he wrote to his girlfriend, in which he “bragged about snookering the prosecutor and probation officer in order to receive a lighter sentence,” according to court documents. On appeal, Lewalski argued that the...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Magistrate judge case number: 


Case Number

8:10-cr-00501

Court

Florida Middle

Nature of Suit

Date Filed

November 30, 2010

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.