Florida Man Sentenced in Eight Million Dollar Ponzi Scheme

Florida man sentenced in $8 million Ponzi scheme case from which investors may recover $3 million

A Florida man was recently sentenced in federal court in Alexandria, Virginia for his part in a multi-million dollar Ponzi scheme that affected hundreds of investors. Stanley Shew-A-Tjon received eight years in prison on Friday, May 25th from Judge James Cacheris.

The sentence for the 62-year-old man represents about half of the prison time sought by the prosecutors in this case, and it more closely matched the seven-year sentence requested by Shew-A-Tjon’s defense. This is in contrast to the 12-year sentence ordered for Alan James Watson, another alleged Ponzi schemer, in the same court just days before. Mr. Shew-A-Tjon has reportedly apologized for the damage done by the alleged Ponzi scheme.

According to court documents, Shew-A-Tjon allegedly brought investors into the Ponzi scheme with promises of high monthly returns between 5% and 18%. It is estimated that somewhere between 600 and 800 investors lost about $8 million total in the alleged investment scam. However, a lawyer for Shew-A-Tjon has stated that investors could see $3 million of that amount returned.

If you have been the victim of a Ponzi scheme, pyramid scam, or stockbroker misconduct, speak with an experienced securities fraud attorney today about your options for recovering your investment losses. Just give us a call or fill out our confidential online contact form for more information.

For more information about investment scams and what to do if you’ve become a victim, request a completely free copy of our informative book Five Signs of Investment Fraud …And What to Do if it’s Happened to You.

Categories

Victim of Investment Misconduct?

Start with Free Evaluation of Your Claim 
  • Please enter your first name.
  • Please enter your last name.
  • Please enter your phone number.
    This isn't a valid phone number.
  • Please enter your email address.
    This isn't a valid email address.
  • Please make a selection.
  • Please enter a message.