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Criminal Law

Texas man pleads guilty in $360 million Ponzi scheme

One of three defendants in an alleged $360 million Ponzi scheme that affected at least 400 people, mostly in Maryland, has reached a plea deal with federal prosecutors.

Assistant U.S. Attorney Joyce MacDonald described Cameron Jezierski of Texas as an accomplice to two others ― Kevin Merrill of Towson, Md., and Jay Ledford of Texas ― in promoting “investor confidence that they could entrust their funds to what was really a criminal enterprise.”

Jezierski faces a $116,435 fine and a maximum sentence of 20 years in prison, though his term could be much less because of the plea agreement.

Read the source article at Washington Post

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