Brookville man sentenced for role in Ponzi Scheme

first_imgBROOKVILE, Ind. – A Brookville man will have an extended prison stay after being sentenced this week for his role in a Tri-State Ponzi scheme.Jerry Smith, of Brookville, pleaded guilty in Franklin County Circuit Court last month to five felony counts of criminal securities fraud.Investigators say Smith, and co-conspirator Jason Snelling, ran an $8.9 million scheme selling unregistered investments while working for OneAmerica Securities.Instead of investing clients’ money as promised, the pair used the funds to pay for personal expenses, authorities said.Smith was sentenced this week to 20 years in prison and 20 years on probation. The judge ordered he pay $410,189 in restitution.Jail time will run concurrently with the 65-month federal jail sentence Smith is serving for mail fraud, wire fraud, and tax evasion, related to the Ponzi scheme.Indiana Secretary of State Connie Lawson’s Prosecution Assistance Unit assisted in the investigation.“Smith’s actions were deplorable and I’m pleased we were able to add additional jail time to his sentence,” said Secretary Lawson. “He took advantage of people who knew and trusted him. Plus, he never registered his products as required by law. This combination is typical of what we see in so many Ponzi schemes. I encourage all investors to protect themselves by checking with my office before investing, even if you know the person.”Securities Commissioner Carol Mihalik commented, “I would like to thank Franklin County Prosecutor Mel Wilhelm for his continued work on this case.”“Our offices have been collaborating on this case for almost five years now. Thanks to the continued cooperation between state and local officials, we have been able to hold Smith accountable for his actions and maximize his sentence.”last_img read more

Mane Double Sends Senegal into Knock out Phase

first_imgSadio Mane scored twice Monday evening as Senegal eased to a Group C victory over Kenya and booked their place in the last 16 of the Africa Cup of Nations.The Liverpool forward had a first-half penalty saved by Kenya keeper Patrick Matasi, before adding to Ismaila Sarr’s volley with a placed effort.Mane then converted a second spot-kick after Philemon Otieno was sent off for a dangerous tackle on Sarr late on. Senegal face Uganda in the last 16 on 5 July.Kenya could still qualify as one of the best four third-placed teams, depending on the results in the final games in Group E and F.However, Monday’s result means DR Congo definitely qualify from Group A with a superior goal difference.Elsewhere, Napoli midfielder Adam Ounas scored twice and picked up an assist on his first appearance at the Africa Cup of Nations as Algeria maintained their 100% record with victory over Tanzania.Ounas set-up Leicester striker Islam Slimani for the opener before netting twice in a dominant first-half display.Algeria, who finish top of Group C, were already through to the last 16 with wins in their opening two games.They will face one of the best third-placed teams in the next round.With qualification already secured, Algeria coach Djamel Belmadi made nine changes to the starting XI – handing a start to Slimani, who has been kept out of the team by in-form Al Sadd striker Baghdad Bounedjah.And Slimani took his chance after half an hour, netting his 27th international goal on his 61st appearance following a wonderful reverse through ball from Ounas.That was the breakthrough Algeria were searching for and Ounas made it 2-0 five minutes later after linking up with Slimani on the edge of the box to score his first international goal on just his seventh appearance.Tanzania, who had defended well for the first half an hour, could do nothing to prevent a third on the stroke of half-time as Slimani’s threaded pass found Ounas again and the midfielder coolly rounded the keeper before slotting into an empty net.Algeria had more chances after the break – Mohamed Salim Fares volleying Ounas’ delivery wide before hitting the outside of the right post from close-range.Manchester City winger Riyad Mahrez replaced Ounas in the second half but did not make an impact, while substitute Bounedjah wasted a great chance to make it 4-0 when he fired wide late on. Blackpool striker Adi Yussuf also came on for Tanzania in the second half but headed over the bar with minutes to spare.Tanzania, who were competing in their first Nations Cup since 1980, failed to progress to the knock-out stages and finished bottom of the group with three defeats.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more