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

3-star offensive tackle Ward commits to Syracuse

first_imgSyracuse picked up a big signing Wednesday – literally.Six-foot-8, 290-pound offensive tackle Denzel Ward from Simeon Vocational High School in Chicago signed with the Orange. Ward is a three-star recruit and is ranked No. 79 at his position by his decision on Campus Insiders, Ward reached first for a South Florida hat before redirecting his arm to his left over a Vanderbilt cap and grabbing a hat with Otto the Orange’s face on it.Going into national signing day Wednesday, Ward had narrowed his teams down to Syracuse, South Florida and Vanderbilt after turning down offers from other programs including Florida, Michigan, Nebraska, Ohio State, Oklahoma and Wisconsin.He joins two-star guard Aaron Roberts – another Chicago product – as the second offensive lineman in the Orange’s Class of 2014. Ward also becomes the seventh recruit from the Midwest to pledge to SU in the incoming class.AdvertisementThis is placeholder text Comments Published on February 5, 2014 at 11:06 am Contact Phil: | @PhilDAbb Facebook Twitter Google+last_img read more

WCQ: Keshi dares Ghana, Ivory Coast, others

first_imgSuper Eagles Coach Stephen Keshi has declared that his team is ready to face any of the other nine countries for next year’s World Cup in Brazil.The Big Boss at the post match conference at the U.J Esuene in Calabar said he is not in any way afraid of Ghana, Ivory Coast, Egypt or any of the other top countries still in the run for one of the five slots allocated to Africa at the next Mundial.No preference-I don’t have any preference for any of the teams left, whoever we are paired to face, we are ready to face them, the target is to be in Brazil 2014 and that is what we are pursuing as a team, stated the Big Boss.The Eagles will be clear on the next hurdle to be crossed in the run to the 2014 World Cup as CAF will be conducting a draw for the remaining 10 teams who will now play themselves in a two-legged tie to determine the final qualifying teams.last_img read more