(Brookville, IN)--The Brookville man who ripped off Whitewater Valley investors of more than $5 million has had his sentence drastically reduced. Jerry Smith operated a Ponzi scheme and was convicted at both the state and federal level. A state appeals court overturned the sentence. Smith has now been resentenced. His time behind bars was dropped from 40 down to ten years and the order that he pay $5.4 million in restitution has been dropped. Smith is currently in federal prison in Atlanta.