Former Asheville man sentenced in Ponzi scheme - Winston-Salem Journal: Business News

Former Asheville man sentenced in Ponzi scheme

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Posted: Friday, March 15, 2013 10:16 pm

CHARLOTTE — A former North Carolina resident was sentenced this week in U.S. District Court for his involvement in the $32.5 million Queen Shoals Ponzi scheme.

Gary D. Martin, 61, of St. Augustine, Fla., and formerly of Asheville, was sentenced to 10 years in prison and two years of supervised release. Martin also was ordered to pay $31.7 million as restitution to the victims and forfeit and pay an additional $28.5 million to the government from profits.

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