Benny Judah will soon be sentenced for Ponzi scheme - KCBD NewsChannel 11 Lubbock

2/5/10

Benny Judah will soon be sentenced for Ponzi scheme

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LUBBOCK, TX (KCBD) - A Lubbock businessman who pleaded guilty to a Ponzi scheme involving Lubbock investors will soon be sentenced.

Benny Judah pleaded guilty in November to money laundering and the sale of unregistered securities. Prosecutors say he ran a massive Ponzi scheme during which he bilked nearly 300 investors out of more than $50 million.

Judah will be sentenced on March 5th and faces up to 25 years in prison. He will also pay $48 million in restitution.

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