Ponzi Pair Get Prison

LAS VEGAS (CN) - A husband and wife Ponzi team were sentenced to years in federal prison Tuesday for bilking victims of $6.5 million.

Linda Livolsi aka Linda G. Findley aka Linda Grogg, 46, of Cleveland, Okla., was sentenced to 45 months in prison and ordered to pay $6.1 million in restitution.

She pleaded guilty on Oct. 15, 2014, wire fraud and tax fraud.

William Livolsi Jr., 55, was sentenced to two years in prison and ordered to pay $5 million in restitution. He pleaded guilty on Oct. 15, 2014, to wire fraud.

They told their victims they would put the money into a profitable hedge fund, the U.S. Attorney's Office said.

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Email *

Submit