POSTED: 05:37 p.m. HST, Jan 05, 2012
LAST UPDATED: 03:40 a.m. HST, Jan 06, 2012
A 60-year-old Koloa man started serving a 10-year prison term for collecting about $16 million in a Ponzi scheme that victimized 140 people mostly on Kauai.
A federal judge sentenced David E Ruskjer to the 10-year term Thursday afternoon for mail and wire fraud and money laundering.
U.S. District Judge Helen Gillmor also ordered Ruskjer to repay his victims $11,586,834.