Article: WESTLAKE VILLAGE MAN WHO ORCHESTRATED $64 MILLION PONZI SCHEME SENTENCED TO 25 YEARS IN FEDERAL PRISON

LOS ANGELES, Nov. 3 -- The U.S. Department of Justice's Federal Bureau of Investigation's Los Angeles Field Office issued the following press release:

A Los Angeles County man who was the leader of a $64 million Ponzi scheme that bilked 63 investors in California and Texas with false promises of huge returns from investments in a bond-trading program and a life insurance pool that would benefit members of African-American churches in South Los Angeles was sentenced today to 300 months in federal prison.

Curtis D. Somoza, 41, who was residing in Westlake Village when he was indicted three years ago but has been in jail since April 2007, was sentenced following a two-day hearing by United ...

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