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Atty-Duping Scammer Gets 22 Years In $396M Ponzi Scheme

New IdentityTheft Scam

Law360 (October 10, 2019, 10:45 PM EDT) — A Maryland man who pled guilty to scamming investors including lawyers, bankers, investment advisers and professional athletes in a $396 million scheme offering high returns on consumer debt was sentenced Thursday to 22 years in federal prison and to pay at least $190 million in restitution.

Kevin B. Merrill, 54, was sentenced in Maryland federal court. U.S. District Judge Richard D. Bennett ordered him to pay the full amount of his victims’ losses, but that amount hasn’t yet been determined, the U.S. Department of Justice said Thursday.

Merrill, who was allegedly head of the operation, pled guilty to wire fraud and conspiracy in…

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Source: on 2019-10-10 22:48:45

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