WASHINGTON, Oct. 23 -- The U.S. Department of Justice's U.S. Attorney's office for XXXXXX (insert district) issued the following press release:
EL PASO, Texas - An El Paso man was sentenced in to 51 months in federal prison along with a money judgement of $3,148,094.48 for running an 11-year Ponzi scheme in which he represented to investors that he would use their funds to promote NBA preseason games, announced U.S. Attorney Justin R. Simmons for the Western District of Texas.
According to court documents, Timothy France Johnson, 63, spent more than a decade soliciting over $3 million from investors by falsely claiming he would use their money to promote NBA preseason games. In reality, Johnson fabricated contracts and financial statement...