No relief for Ponzi schemer

HOUSTON (CN) — A federal judge in Texas declines to provide any relief for the Ponzi scheme perpetrator who appeals the $6.5 million default judgment entered against him after he avoided depositions and mediation for more than two years. The underlying scheme involved the fraudulent sale of off-the-road mining tires and his default was “willful” because he was personally served notice of the allegations against him and “chose to do nothing.”