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Two Men Sentenced in SoCal Ponzi Scheme

(CN) - Two men were sentenced to long prison terms and ordered to pay $63 million in restitution to people they bilked in a Ponzi scheme they called Learn Waterhouse, the Wealth Builders Club and Qwest International.

Ricky D. Sluder, 51, of Houston, was sentenced to 15 years and eight months in federal prison and ordered to pay $44.9 million in restitution.

Larry C. Saturday, 66, of Savannah, Ga., was sentenced to five years and three months and ordered to pay $22.4 million in restitution.

Sluder and Saturday promised "risk free" returns of 50 percent a month or more.

Their fellow criminal Randall D. Treadwell was sentenced in December to 25 years in prison and ordered to pay $44 million in restitution. Also in December, Texas attorney Arnulfo M. Acosta was sentenced to seven years and three months in prison and ordered to pay $20 million in restitution.

Sluder and Saturday must report to prison in March.

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