The fourth man convicted in a $194 million Ponzi scheme – the second largest in Minnesota history – was sentenced Monday to 240 months in federal prison. According to the U.S. Attorney General’s office, 75-year-old Patrick Kiley of Burnsville was convicted last June of 12 counts of wire and mail fraud, one count of conspiracy to commit mail and wire fraud and two counts of money laundering. Kiley – along with ring leader Trevor Cook, Jason Bo-Alan Beckman, Gerald Joseph Durand and Christopher Pettengill – were all solely and jointly ordered to pay $155,359,411 in restitution to their victims.
A jury found four three men guilty Tuesday in a $194 million Ponzi scheme that victimized more than 700 people.
A Plymouth man has pleaded guilty to persuading others to invest in a multi-million-dollar Ponzi scheme orchestrated by Trevor Cook.
A Plymouth man is charged with persuading others to invest in a multi-million-dollar Ponzi scheme orchestrated by Trevor Cook.
A Twin Cities businessman found guilty of running a multi-million dollar Ponzi scheme is being sentenced today.