A man who scammed 500 people is sentenced 15 years - Cleveland 19 News Cleveland, OH

A man who scammed 500 people is sentenced 15 years

(Source: WTOL) (Source: WTOL)
TOLEDO, OH (WTOL) -

An Ohio man will spend the next 15-years behind bars.

Prosecutors say he scammed nearly 500 people out of $70 million in a Ponzi scheme.

He will also have to pay more than $32 million in restitution.

Police say William Apostelos operated an investment management company in the Dayton area..

He used people's money for personal luxuries instead of making investments.

Follow WTOL:  

Download our app here

Copyright 2017 WTOL. All rights reserved.

Powered by Frankly