{"id":129605,"date":"2022-08-22T06:00:18","date_gmt":"2022-08-22T10:00:18","guid":{"rendered":"https:\/\/valorguardians.com\/blog\/?p=129605"},"modified":"2022-08-21T12:41:09","modified_gmt":"2022-08-21T16:41:09","slug":"man-who-ran-ponzi-scheme-targeting-vets-gets-10-years","status":"publish","type":"post","link":"https:\/\/www.azuse.cloud\/?p=129605","title":{"rendered":"Man who ran Ponzi scheme targeting vets gets 10 years"},"content":{"rendered":"

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Scott Kohn, the 68 year old mastermind of a $310,000,000 Ponzi scheme known as Future Income Payments LLC got a 10 year sentence this week for his racket targeting military vets and retirees.<\/p>\n

\u201cKohn\u2019s actions resulted in devastating consequences for the thousands of seniors and veterans who entrusted him with their money,\u201d said Special Agent in Charge Susan Ferensic of the FBI Columbia Field Office. \u201cWe are pleased that he acknowledged his crimes, and that justice will be served.\u201d<\/p>\n

In addition to a prison term, Judge Hendricks ordered Kohn to forfeit $297 million and be placed on supervised release for a period of three years after completing his prison term.<\/p>\n

Four other defendants previously pleaded guilty to conspiracy for their roles in this scheme. Kraig S. Aiken, 53, of Rancho Santa Margarita, California, pleaded guilty on Nov. 20, 2019. David N. Kenneally, 59, of Greenville, South Carolina, pleaded guilty on July 22, 2020. Melanie Jo Schulze-Miller, 40, of Peoria, Arizona, pleaded guilty on Dec.11, 2020. Joseph P. Hipp, 52, of St. Louis, Missouri, pleaded guilty on Dec.21, 2021. Sentencing hearings have not yet been set for these co-conspirators.<\/p><\/blockquote>\n

Justice Dpmt.<\/a><\/p>\n

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And when the Ponzi scheme ultimately collapsed, Kohn and his coconspirators had caused more than $310 million in losses to more than 2,500 retirees and had placed more than 13,000 veterans into exploitative loans, prosecutors said.<\/p>\n<\/blockquote>\n