Woman sentenced for $400M Ponzi scheme

A San Diego businesswoman whose Ponzi scheme bilked hundreds of people out of nearly $400 million was sentenced Wednesday to 15 years in federal prison.

Video Transcript

[MUSIC PLAYING]

Recommended Stories

  • Metal detectorist finds ancient coins that could solve mystery of murderous 1600s pirate

    A handful of coins unearthed from a pick-your-own-fruit orchard in rural Rhode Island and other random corners of New England may help solve one of the planet's oldest cold cases.

  • 'Masked Singer' fans take to Twitter following controversial YouTuber's reveal

    Another wildcard contestant debuted on The Masked Singer Wednesday night, when Group B returned to the stage. Grandpa Monster, the Black Swan, the Chameleon and Piglet each performed. While Grandpa Monster sang about not giving a damn about his reputation, he might give a damn about his elimination as this week's wildcard, the Crab, whose performance was clawesome, beat Grandpa Monster by a pinch. So, who was underneath the Grandpa Monster mask? Following his unmasking, YouTuber, actor, podcaster, and boxer Logan Paul shared, "Singing is so scary for me, and being in this costume, ironically, as restrictive as it is, you feel so free in here. It was a lot of fun. But I'ma be honest, guys. I never stood a chance. What am I doing here? I'm a youtubing, boxing, Pokémon collector." Some Masked Singer fans have still not forgiven Logan since his 2018 controversy, when he filmed a suicide victim and posted it to his YouTube. Viewers took to Twitter following his reveal to criticize Masked Singer for having him on. However, others loved his reveal as they were happy to welcome him back.

  • ARK’s Sam Korus on firm’s newly-launched Space Exploration & Innovation ETF

    Ark analyst Sam Korus, joins Yahoo Finance to discuss Cathie Wood’s Space ETF debut and investing in space exploration and innovation.

  • Witness breaks down after watching footage of police restraining George Floyd

    During the trial of former Minneapolis Police Officer Derek Chauvin on Wednesday, prosecution witness Charles McMillan broke down in tears after watching a video of himself observing the police restrain George Floyd.

  • Kemp deputy pushes for increased voting despite controversial new law

    Less than a week after Georgia Republicans passed a controversial new election law, one of the state’s top GOP leaders expressed concern about portions of the bill that he believes don’t make sense. “There were some things I didn't like in the law early on in the process, and I spoke up really loudly about it,” Lt. Gov. Geoff Duncan told Yahoo News. “I think an important part of this is about continuing to live around the mantra of making voting in Georgia easier to vote and harder to cheat.”

  • Biden's dog involved in 2nd biting incident

    President Joe Biden's younger dog Major this week was involved in his second biting incident of the month, the White House said Tuesday.

  • Manhattan DA speaks on arrest of suspect in attack on Asian woman

    On Wednesday, Manhattan District Attorney Cyrus Vance Jr. spoke about the arrest of a suspect in a brutal attack on an Asian woman near Times Square.

  • Chet Hanks: Video of altercation with ex surfaces as judge grants protective order against him

    A judge in Texas’s Fort Bend County has granted a protective order against Chester “Chet” Hanks, the actor son of Tom Hanks and Rita Wilson.

  • 'The pent-up demand for travel is really manifesting itself': Hawaiian Airlines CEO

    Hawaiian Airlines CEO Peter Ingram joins Yahoo Finance Live to talk the airline recovery outlook amid COVID-19.

  • Wolverine’s Jacket, Springsteen’s Boots & Bette’s Gown Among Auction Items Benefitting Actor’s Fund

    A Wolverine jacket donated by Hugh Jackman, a pair of Elton John’s eyeglasses, boots and jeans from Bruce Springsteen and Bette Midler’s glittery black Halloween 2014 gown are just a few of the items that will be auctioned off in April in an unprecedented collaboration between The Actor’s Fund, Doyle Auctioneers & Appraisers and actress […]

  • Tech sector has a ‘fair amount of opportunity left’ for investors: Strategist

    Chris Konstantinos, RiverFront Chief Investment Strategist, joins Yahoo Finance’s Alexis Christoforous and Kristin Myers to discuss the market outlook and higher than expected jobless claims.

  • Nicola Sturgeon attacks 'gambler' Salmond - then says referendum must be held during Covid recovery

    Nicola Sturgeon has lashed out at Alex Salmond for being a "gambler" - then set out plans for an independence referendum while Scotland is still recovering from the coronavirus pandemic. The First Minister said her former mentor, whom for years she asked Scots to trust to lead to independence, "backs the horses on a near daily basis" and was asking voters to "gamble on the outcome of this election" with his new Alba Party. Despite Mr Salmond's offer to work with her to achieve an independence "super-majority" in the Holyrood chamber, she said him setting up a separate party was not "a friendly gesture on Mr Salmond's part towards the SNP." Challenged that this was the same Alex Salmond that she had asked voters to support in the 2014 referendum and election after election, Ms Sturgeon said: "The point I'm making is about how he's behaving now. I trusted Alex Salmond for a long, long time." The First Minister said her planned independence referendum would happen after Scotland is out of the "acute phase" of the pandemic, a term she defined as world leaders telling their populations about ongoing mass fatalities. However, she said the separation vote would happen in the subsequent "recovery phase". Ms Sturgeon confirmed in an election TV debate this week she wanted the referendum to be held by the end of 2023.

  • Abdul-Kareem Al-Selwady ready for UFC call: ‘I feel I’m at that level. I just need the chance to prove it’

    One of the MMA pioneers in the Middle East, Abdul-Kareem Al-Selwady says he's ready to take his career to the next level with the UFC.

  • Myanmar coup: More than 40 children killed by military, rights group says

    Save the Children tells of a "nightmare situation", with the youngest victim just six years old.

  • China’s media war and the battle for truth

    Beijing is ruthlessly shutting down reporters, says John Sudworth, who was forced to move to Taiwan.

  • Rep. Matt Gaetz reportedly showed nude photos of women to lawmakers and bragged about his sexual exploits

    CNN reported that Gaetz showed lawmakers, both in private and on the House floor, nude photos of women he said he slept with.

  • Physical therapist accused of sexual assault during massage at Carrollton hospital

    A Denton County grand jury returned an indictment this week against the physical therapist in the 2019 incident.

  • Williams had seven seasons left on his UNC contract. It never mentions retirement.

    Williams signed a contract extension in 2018.

  • The US Army struck a deal worth up to $22 billion with Microsoft for these futuristic headsets soldiers will wear in combat

    The high-tech heads-up displays are like something out of Iron Man and give soldiers access to a lot of augmented reality and digital tools.

  • Trump's post-presidency is reportedly plagued by infighting and grifting

    In the months since former President Donald Trump departed the White House, something of a "cold war" has erupted in his orbit among "competing factions that are seeking to capitalize on their time with" him, a new Politico report describes. The report details how, as one former senior administration official put it, people in Trump's orbit who "didn't like each other four months ago" now "all have a common interest: how to get some coin out of the Trump post-presidency." In fact, Trump himself has reportedly been warned by his allies that he's currently surrounded by people who are all "singularly focused on enriching themselves," Politico writes. "They're competing for his money," a former senior administration official told Politico. "I've told the president, 'You need to be cognizant of this.'" For example, there was reportedly a bit of a "whodunit" among officials when someone appeared to possibly abuse a confidential donor list, to the point that there had to be a warning sent out that anyone who misuses campaign resources could face prosecution. Former aides and advisers have also accused one another of "overstating" their access to the former president in an attempt to land clients, suggesting to campaigns that hiring them might help get them a Trump endorsement, and they're also all "squabbling" for access to Trump at Mar-a-Lago, Politico says. Trump spokesperson Jason Miller disputed this characterization of an environment Politico compared to Lord of the Flies, arguing that actually, there's currently "the least amount of ally competition or conflict at this point than I've ever seen," since the former president's orbit now consists only of "true believers." Read more at Politico. More stories from theweek.comThe Matt Gaetz allegations show how QAnon corrupts its followersGeorge Floyd's girlfriend, paramedics testify in Chauvin trialMatt Gaetz, trying to prove his extortion claims, shares salacious new details of the DOJ's case against him