Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Saturday, April 28, 2007

Ponzi Schemer Armstrong Will Begin Criminal Sentence

Martin A. Armstrong, who pled guilty to running a $3 billion Ponzi scheme through his investment fund, Princeton Economics International, has already served seven years in jail for civil contempt, having refused to turn over assets to the court-appointed receiver.  Now he will begin to serve his five-year sentence for the crime.  See NYTimes, Jailed 7 Years for Contempt, Adviser Is Headed for Prison; WSJ, Judge Lifts a Sanction on Armstrong.

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