The Daily Caveat is written by Michael Thomas, a recovering corporate investigator in the Washington, DC-area. [More]
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2/25/2008
81 Year Old Sentenced to 28 years in $190 Million Ponzi Scheme
81 Year Old Sentenced to 28 years in $190 Million Ponzi Scheme
20+ years, 1800 victims, $190 million dollars - father and son John and Daniel Heath had quite a ponzi scheme going, selling phoney investments to the elderly.
The two, along with a third man, Denis O'Brien, have already been convicted, John Heath on dozens of fraud-related counts including selling false securities and grand theft, Daniel Heath on literally hundreds.
Sentencing is in progress. John Heath, already in his 80s is facing 28 years. O'Brien and the younger Heath could each face 30 years themselves and will be sentenced in the next few weels.
-- MDT
The two, along with a third man, Denis O'Brien, have already been convicted, John Heath on dozens of fraud-related counts including selling false securities and grand theft, Daniel Heath on literally hundreds.
Sentencing is in progress. John Heath, already in his 80s is facing 28 years. O'Brien and the younger Heath could each face 30 years themselves and will be sentenced in the next few weels.
-- MDT
Labels: Daniel O'Brien, David Heath, John Heath, ponzi scheme
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