A couple from Charlotte, North Carolina has been ordered to pay restitution
after an alleged
Ponzi scheme took millions from retired and elderly investors.
Sidney Hanson pleaded guilty to counts of securities fraud and mail fraud
in the scheme. He was sentenced to 22 years in prison earlier this year.
His companies, along with his wife Charlotte Hanson, have been ordered
to pay out more than $23 million in restitution that was allegedly taken
from their investors.
According to the allegations, Hanson promised investors a "risk-free"
investment opportunity that would pay returns of 8 to 24 percent. Unfortunately,
investors instead were being lured into a Ponzi scheme and being paid
with money from new investors in the scam. Hanson and his wife are said
to have spent the rest on a large farm, expensive vacations, and private
securities fraud attorneys with Meyer Wilson represent victims of Ponzi schemes in
stockbroker mediation, arbitration, and litigation. We have recovered millions of dollars in
losses for our clients, and we look forward to speaking with you.