A Galesburg woman was sentenced to six years in federal prison for her role in a cattle-trading Ponzi scheme that bilked millions of dollars from victim investors.
Reva Stachniw, 71, and a co-conspirator, Rog Throgmartin, 59, of Buford, Ga., ran the scheme by fraudulently representing to victims that their investments were backed by legitimate cattle and marijuana businesses.
But the funds were actually used to pay earlier investors, according to federal prosecutors.
In August, Stachniw and Throgmartin were found guilty of wire fraud, conspiracy to commit wire fraud, and conspiracy to commit money laundering.
In addition to the prison sentences, Statchniw was ordered to pay $15 million in restitution and to forfeit $6 million.
Throgmartin was ordered to pay $15 million in restitution and to forfeit $1 million.
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