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Two Convicted in Ponzi Scheme Get Probation

 
Two Convicted in Ponzi Scheme Get Probation
Posted Tuesday, January 28th 2014 @ 4am

Two of the men charged in a West Michigan Ponzi scheme will not go to jail, even though investors were cheated out of $9 million.

Doug Kacos, who owns the New Beginnings restaurants, and Thomas Doctor both were sentenced to probation for three years.

WOOD TV reports that they laundered money overseaes for the two men running the scheme. Jeff Ripley and Danny VanLiere already were sent to prison.

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