Kauai man gets 10 years in prison for $16M Ponzi scheme
A 60-year-old Koloa man started serving a 10-year prison term for collecting about $16 million in a Ponzi scheme that victimized 140 people mostly on Kauai.
A federal judge sentenced David E Ruskjer to the 10-year term Thursday afternoon for mail and wire fraud and money laundering.
U.S. District Judge Helen Gillmor also ordered Ruskjer to repay his victims $11,586,834.
