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Man Sentenced For Ponzi Scheme

Published on May 14, 2014 at 06:42AM

A prison sentence of five-years is being handed to the St. George man accused of operating a Ponzi scheme. Arvin Black the Second is accused of scamming more than 50 victims out of 21-million-dollars. Black pleaded guilty to wire fraud and money laundering. As part of his sentence Black must pay nearly 14-million-dollars in restitution.