Ponzi scheme leader who preyed on vets sentenced to 10 years

CRIME OF THE DAY

Ponzi scheme leader who preyed on vets sentenced to 10 years
By Irene Loewenson
Aug 18, 05:28 PM
Scott A. Kohn pleaded guilty Thursday to a nationwide Ponzi scheme that put 13,000 veterans in exploitative loans. (Army)

The ringleader of a $300 million Ponzi scheme that targeted veterans and the elderly pleaded guilty and was sentenced Thursday to 10 years in prison.

Scott A. Kohn, a 68-year-old from Newport, California, was indicted in 2019 in South Carolina for a nationwide fraud conspiracy operated through his corporation Future Income Payments LLC from 2011 to 2018.


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