- Associated Press - Wednesday, February 5, 2014

OMAHA, Neb. (AP) - An Omaha man has been ordered to pay restitution and penalties in connection to a lawsuit over an alleged Ponzi scheme that bilked more than 100 people out of more than $4 million.

The U.S. District Court in Omaha recently ruled that Michael Kratville was liable for operating the scheme and must pay $524,000 in restitution and $1.17 million in civil penalties as part of a lawsuit filed in 2011 by the federal Commodity Futures Trading Commission.

The commission claimed Kratville and two other men lost $3 million in participants’ funds and misappropriated more than $1.5 million in investments. The men were indicted last year and face federal criminal charges related to the case.

The Omaha World-Herald reports (https://bit.ly/LQIThl ) messages left for Kratville and his attorney were not immediately returned.


Information from: Omaha World-Herald, https://www.omaha.com

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