Local News

SENTENCED REDUCED FOR MAN WHO STOLE $5 MILLION FROM INVESTORS

(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.