September 23, 2022

A man in Texas, James Clark Nix, has been sentenced to 48 years in federal prison after being found guilty of defrauding investors of at least $6 million in a Ponzi scheme spanning multiple decades.  Using his position as an accountant, Nix had promised investors—many of them his own friends—high interest returns of up to 10%, leading many to entrust him with their life’s savings.  USAO EDTX

Tagged in: Financial and Investment Fraud, Ponzi Schemes,