Donald Anthony Walker Young

Donald Anthony Walker Young, who is known as Tony Young or Walker Young, was the owner of Acorn Investments and Acorn II L.P.. He was indicted,[1][2] pleaded guilty and was sentenced for running a $25 million Ponzi scheme.

Young was raised in Fitzgerald, Georgia. He used a fabricated life story to work his way into the Atlanta and then the Chester County, Pennsylvania, polo scene, where he met many of his victims.[3] Before being shaken and ultimately brought down by a $20 million withdrawal of funds in 2008, prior to his indictment, Young also acquired vacation homes in Northeast Harbor, Maine and Palm Beach, Florida and encountered prospective and ultimate victims in these locales as well. He pleaded guilty in July, 2010, to mail fraud and money laundering. In May, 2011, he was sentenced to 17-1/2 years in prison.[4]

See also

List of Ponzi schemes

References

  1. ↑ http://philadelphia.bizjournals.com/philadelphia/stories/2010/03/29/daily38.html
  2. ↑ http://philadelphia.fbi.gov/dojpressrel/pressrel10/ph040110.htm
  3. ↑ http://compliancex.typepad.com/compliancex/2009/11/a-scandal-rocks-the-polo-set.html
  4. ↑ "Ponzi schemer with ties to MDI gets 17 years in prison", Bangor [Maine] Daily News, May 05, 2011 7:32 pm. Retrieved 2011-05-05.


This article is issued from Wikipedia - version of the Tuesday, May 03, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.