Denver man guilty in Ponzi scheme that cost millions
DENVER – A Denver man faces up to 20 years in prison after pleading guilty to operating a Ponzi scheme involving millions of dollars.
Prosecutors say 55-year-old Mark J. Jackson told clients he was a successful day trader and promised investors returns of 12 to 36 percent. Prosecutors say Jackson used the money he was given for himself and to pay other investors.
He plead guilty to racketeering Monday.
Prosecutors say Jackson began his scheme in 1995 and that the amount of money his victims lost is estimated to be millions of dollars.
Jackson is expected to be sentenced May 25.