- Associated Press - Tuesday, June 23, 2015

CINCINNATI (AP) - An Ohio man has been sentenced to more than eight years in prison for running a decade-long Ponzi scheme.

A federal judge handed down the sentence against 53-year-old John Bullar Monday. He’s been ordered to pay $6.2 million in restitution and forfeit more than $500,000.

Prosecutors say the Cincinnati man solicited $8.7 million from more than 40 investors between 2003 and 2013, marketing himself as someone experienced in investing in commodity futures.

Authorities say Bullar used investor money to pay for vacations, country club dues, boats, sports tickets and vehicles, as well as his mortgage.

The Cincinnati Enquirer reports that Bullar’s attorney said her client didn’t set out to defraud anyone.

He pleaded guilty in September to wire fraud and money laundering.


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