Ponzi Scheme Mastermind Sentenced

FORT COLLINS, Colo. (CBS4)- A man who pleaded guilty to theft in connection to a ponzi scheme was sentenced to five years in prison. Richard Mayfield was sentenced on Friday.

Mayfield, 72, pleaded guilty to theft, a class four felony, on July 21. He was arrested in April.

Larimer County Deputy District Attorney Christopher Rossi stated that Mayfield preyed on both elderly and at-risk adults resulting in a loss to the victims in excess of $271,000.

Mayfield will serve his sentence in the Department of Corrections.

Comments

One Comment

  1. Stryker says:

    Based on the headline I thought the article was about FDR and Social Security. Oh well, at least another Ponzi scheme creator will go to jail.

  2. generic mann says:

    Is the air really that thin up there? FDR? You sir, are an idiot.

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