SoCal Ponzi Man Gets 5 Years

SAN DIEGO (CN) – Scott Bottolfson was sentenced Friday to 5 years in federal prison and told to pay back the $6.8 million he stole in a Ponzi scheme. Bottolfson, of Encinitas, promised 18 to 20 percent returns from his company, Increase Investments, but spent half the money he raised on himself. He pleaded guilty to wire fraud in December.

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