January 21, 2026
Federal prosecutors in Georgia announce guilty plea in Ponzi scheme that bilked investors of $380M
A financial adviser in Georgia pleaded guilty Wednesday to wire fraud in a Ponzi scheme that bilked more than 2,000 people out of $380 million, federal authorities announced.
TL;DR
- A financial adviser in Georgia pleaded guilty to wire fraud.
- The fraud was part of a Ponzi scheme.
- More than 2,000 people were defrauded.
- The total amount lost by victims was $380 million.
- Federal authorities announced the guilty plea.
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