Utah man faces prison, deportation in Ponzi scheme
A Utah man accused in a Ponzi scheme has been ordered to spend five years in federal prison and pay back $6.8 million before he's deported back to his native Great Britain.
Federal prosecutors say 59-year-old John S. Dudley was sentenced last week in U.S. District Cour, after he admitted in a plea agreement to sending an incriminating email to an undercover investigator.
Prosecutors say Dudley touted a wide range of investments with high returns but used the money to fund a lavish lifestyle that included a $1.5 million home, luxury cars and exotic vacations.
Authorities say investors who lost money to Dudley included young people and the elderly.
Dudley was charged in a 17-count indictment in 2011 and pleaded guilty to wire fraud in February.
The Associated Press