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Ponzi Scamster Sentenced

By
Chris Camp
@ November 6, 2009 2:28 AM Permalink | Comments (1) | TrackBacks (0)

ATLANTA (AP) A former attorney has been sentenced to more than five years in prison for a real estate investment fraud scheme that took in a dozen victims in Georgia, Florida and Tennessee.

The federal sentence was handed to 53-year-old Steven Ballard of McDonough on Thursday. He must serve five years, three months in prison and three years probation.

He was also ordered to pay approximately $1.13 million in restitution to the fraud victims.

Prosecutors say the ponzi scheme took in more than $2 million over three and a half years using bogus warranty deeds, sales contracts or other documents to reflect nonexistent property purchases.

Ballard was a real estate and business law attorney and was disbarred in 2006. He faced up to 20 years in prison.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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  • Recovery Through Taxes
    If you lost money through Steven Ballard, call for a free estimate of potential treasury efunds for fraud victims.

    Investment Theft Loss Experts.com
    1-800-889-1602
    By Theft Loss Expert @ 11/09/09 10:48:43 AMreport abuse
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