Ponzi term.Ponzi Term: Reed Slatkin Reed Eliot Slatkin (born 22 January 1949 in Detroit, Michigan) was an initial investor and co-founder of EarthLink and the perpetrator of the largest Ponzi scheme in the United States since that conducted by Charles Ponzi himself. was sentenced to 14 years in prison for his role in a Ponzi scheme A fraudulent investment plan in which the investments of later investors are used to pay earlier investors, giving the appearance that the investments of the initial participants dramatically increase in value in a short amount of time. that took almost $600 million from investors. In sentencing Slatkin, U.S. District Judge Margaret Morrow mor·row n. 1. The following day: resolved to set out on the morrow. 2. The time immediately subsequent to a particular event. 3. Archaic The morning. rejected the recommendations by prosecutors for an 11-year sentence. Federal prisoners are eligible for release after serving 85 percent of his sentence, so Slatkin could be released in 10 1/2 years, when he is 64. |
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