Charlotte Man Given 64 Months in Jail for Involvement in Ponzi Scheme

court lawyer

A Charlotte man was given 64 months in prison Monday for his part in a Ponzi scheme. The man was also ordered to pay $805,150 for restitution. 

45-year-old John Reid Perkins and others in the scheme, which prosecutors say happened from 2006 to 2008, falsely told investors they would be investing money in Master Home Solutions, Perkins’ company. The money was instead used for personal use of those involved in the scheme.

Perkins and the co-conspirators also paid previous investors with new investors’ money, prosecutors said.

U.S. District Judge Max Cogburn also charged Perkins with identification document fraud, iwire fraud and aggravated identity theft, and federal conspiracy for a previous federal conviction in 2007, prosecutors said.

 

Comments are closed.