Ponzi Scheme

SAN FRANCISCO – The Ninth Circuit ruled that Kevin Kyes was properly convicted of defrauding more than 60 Japanese investors who sent him and his partner $6.8 million dollars with the expectation that the money would be invested. 

Kyes visited his doctor the day his trial was scheduled to commence. The doctor gave him a note saying he should be excused from court for 7 to 10 days but the court properly denied a continuance, the Ninth Circuit ruled.

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