Man sentenced for $20M Ponzi scheme
GREENBELT, Md. — A Maryland man has been sentenced to more than two years in prison for his role in a Ponzi scheme that defrauded investors out of more than $20 million.
U.S. District Judge Paula Xinis on Wednesday sentenced 53-year-old Bradley Mascho, of Frederick, to 30 months in federal prison. U.S. Attorney Robert Hur’s office said in a news release that the judge also ordered Mascho to pay nearly $5 million in restitution.
In July, Xinis sentenced 56-year-old investment adviser Dawn Bennett to 20 years in prison for participating in the same fraud scheme.