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Colorado man sent to prison for Ponzi scheme
Posted: May 26, 2010 7:37 AM by Bea Karnes, News First 5
Updated: May 26, 2010 7:37 AM
A Denver-area businessman has been sentenced to 15 years in prison for running a $32 million Ponzi scheme. Fifty-five-year-old Mark J. Jackson was also sentenced Tuesday to five years of mandatory parole.
Jackson pleaded guilty earlier this year to a felony charge of racketeering. Prosecutors say he took money from investors over 15 years with promises of returns from 12 to 36 percent, but instead used the money to pay other investors and himself.
A hearing on restitution was rescheduled after Jackson objected to prosecutors' request that he pay $21.6 million.
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