Paradise to Prison: Pettibone Sentenced in $1.5 Million Ponzi Scheme

Patch:

Trading the D.C.-area rat race for a quiet seaside paradise sounds like the ending to a John Grisham novel.

It’s a daydream that former Alexandria resident Richard Allen Pettibone, 44, almost made a reality. But the money he used to fuel his dreams -- $1.5 million -- wasn't his.

Pettibone stole the money in a Ponzi scheme from his investment clients in Springfield, Lorton and Sterling, he acknowledged last week in a plea agreement with the U.S. Attorney's office.

Pettibone was sentenced Thursday to three years in prison for mail fraud.

Read the whole story: Patch

Comments

[susanbsbi]

03:52 PM on 02/14/2012

3 years, he will be out in 270 days, you call the prison time? I forget the rich get very very very light sentence, had it been me i would have gotten at least 20 years

[Gumby]

04:51 PM on 02/14/2012

correctimundo!

[cuteliberalchick]

04:54 PM on 02/14/2012

100 years