What happened with that ATM Ponzi scheme?
Vance Moore, who orchestrated the $80,000,000 ATM Ponzi scheme, pled guilty to 1 count of wire fraud conspiracy, and 9 counts of wire fraud, and was sentenced to 8 years and 1 month in prison. His co-defendant, Walter Netschi, was also found guilty of 1 count of conspiracy and 9 counts of wire fraud, and was sentenced to 97 months in prison, plus 2 years supervised probation. The most recent person to be charged with running a Ponzi scheme is Gregory Viola, arrested on August 11, 2011 in New Haven CT.
Updated on Saturday, February 04 2012 at 10:42AM EST