Recovering Losses caused by Investment Misconduct

Former Florida Man Sentenced for $30 Million Ponzi Scheme

David Lewalski, formerly of Gainesville, has recently been sentenced in a $30 million Ponzi scheme case. According to officials, the scheme affected over 500 investors and took about $30 million. The sentencing, which took place in Tampa, was for a charge of mail fraud, although wire fraud and conspiracy were also among the original charges in the case.

Allegedly, Lewalski offered investments in foreign currency through his company Botfly, LLC. He is said to have promised investors returns of up to 10% each month. Unfortunately, officials say that Lewalski instead used investor cash to pay off prior investors, rent private jets, lease swanky real estate, and purchase luxury items, such as jewelry and expensive cars.

Lewalski has been sentenced to 20 years in prison, which is the maximum sentence for mail fraud, and he also will have to hand over the cash taken in the scheme and items purchased with investors' money.

The investment fraud lawyers with the Law Firm of Meyer Wilson represent investors who have lost money in Ponzi schemes, investment scams, and securities fraud in stockbroker mediation, arbitration, and litigation nationwide.