Ponzi schemer given stiff sentence

Ponzi schemer given stiff sentence
An unrepentant swindler who devastated metro families was sentenced Friday to 27 years in prison, the longest sentence of its kind in federal court in Atlanta for running an investment fraud scheme. Andrew Mackey lured in more than 160 victims who collectively invested almost $12.3 million in his Ponzi schemes, federal prosecutors said. His company, ASM Financial Funding Corp., falsely promised investors extraordinary yields from lucrative offshore deals. He touted one of his programs, the Wealth Enhancement Club, as a great opportunity for a small and select group of sophisticated investors. But many who signed on lost fortunes. Read more in The Atlanta Journal-Constitution here.