- Associated Press - Friday, January 24, 2014

BALTIMORE (AP) - A Walkersville man has been sentenced to nine years in prison in a $9.2 million Ponzi scheme.

Forty-nine-year-old Larry Parrish was also ordered to pay $4 million in restitution at sentencing Friday in U.S. District Court in Baltimore.

Parrish pleaded guilty in May to wire fraud. Prosecutors say his company, IV Capital, fleeced 70 investors between 2005 and 2009.

They say he falsely represented the company as an investment firm that traded in international exchanges.

The Securities and Exchange Commission obtained a judgment against Parrish in a separate civil action in U.S. District Court in Denver in September 2012.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide