https://www.sandiegouniontribune.co...spend-years-behind-bars-for-400m-ponzi-scheme
Gina Champion-Cain, a once high-profile restaurateur who orchestrated a nearly $400 million Ponzi scheme involving hundreds of victims, was sentenced Wednesday to 15 years in prison. She received the maximum penalty for the criminal charges of conspiracy, securities fraud and obstruction of justice.
While federal prosecutors had recommended a lesser sentence of nearly 11 years, in part because of her cooperation in the ongoing case, U.S. District Judge Larry Burns said Champion-Cain deserved the maximum, calling her crimes a “tremendous fraud” and a “betrayal.” Not only was her Ponzi scheme long-running, it was likely the biggest fraud committed in the history of the federal court’s Southern District of California
Gina Champion-Cain, a once high-profile restaurateur who orchestrated a nearly $400 million Ponzi scheme involving hundreds of victims, was sentenced Wednesday to 15 years in prison. She received the maximum penalty for the criminal charges of conspiracy, securities fraud and obstruction of justice.
While federal prosecutors had recommended a lesser sentence of nearly 11 years, in part because of her cooperation in the ongoing case, U.S. District Judge Larry Burns said Champion-Cain deserved the maximum, calling her crimes a “tremendous fraud” and a “betrayal.” Not only was her Ponzi scheme long-running, it was likely the biggest fraud committed in the history of the federal court’s Southern District of California
