Jen Steele
Jen Steele
10:00am - 2:00pm
Jen Steele

Listen Now

Local News Powered by First Bank Richmond

INVESTMENT MANAGER SENTENCED TO 40 YEARS IN PONZI SCHEME

(Brookville, IN)--The man who swindled Whitewater Valley investors out of millions of dollars has been sentenced to 40 years in prison.  But Jerry Smith of Brookville will have to finish serving his federal sentence in Atlanta before being returned to Franklin County.  Smith used an elaborate Ponzi scheme to steal the life savings of several investors in Fayette and Franklin County totalling $9 million.  Smith was ordered to pay restitution to more than 30 victims, although prosecutors say there’s no money left in Smith’s accounts.

Richmond, IN WEATHER

  View Radar