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Potential 45 Years for Ponzi Schemer
updated: Apr 29, 2014, 3:31 PM

Montecito man David Prenatt convicted of fraud charges is facing 45 years behind bars for a Ponzi scheme, reports The Independent. As a commercial loan broker and real estate agent, Prenatt is accused of swindling 17 investors out of $13 million. He is scheduled to enter a plea on Wednesday morning.

Read the full story at Independent.com

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