Legal Daily News Feature
Georgia Lawyer Pleads Guilty to Ponzi Scheme By Christine Cristiano After investigations by Special Agents of the Federal Bureau of Investigation and the Clayton County District Attorney’s office, real estate and business law attorney Steven H. Ballard of McDonough, GA pleaded guilty to wire fraud and was sentenced to more than five years in prison. The Henry County Police Department and the Peachtree City Police Department also assisted in the investigation of Ballard’s ponzi scheme.
11/16/09 According to Acting United States Attorney Sally Quillian Yates, Ballard, 53, masterminded a bogus real estate investment scam and defrauded more than $2 million from investors in Florida, Georgia and Tennessee from September 2002 to May 2006. According to court evidence, Ballard falsely presented lucrative phony real estate investments to potential clients and then created false documentation so the transactions would appear legitimate to the investors including fake warranty deeds,
and sales contracts. According to the U.S. Attorney’s office, in order to keep the scheme regenerating, Ballard solicited new investors and used their investments to repay other investors, and only reimbursed money if the investors became suspicious. Upon sentencing by U.S. District Judge Thomas Thrash Jr., Ballard will remain in prison for five years and three months. His sentence will be followed by a supervised release for the following three years. He is also required to repay $1.13 million to his fraud victims. Ballard’s license to practice law was suspended in 2005 and he was disbarred in 2006.
EmploymentCrossing is the largest collection of active jobs in the world. We continuously monitor the hiring needs of more than 250,000 employers, including virtually every corporation and organization in the United States. We do not charge employers to post their jobs and we aggressively contact and investigate thousands of employers each day to learn of new positions. No one works harder than EmploymentCrossing. Let EmploymentCrossing go to work for you.
Published on Nov 18, 2012
After investigations by Special Agents of the Federal Bureau of Investigation and the Clayton County District Attorney's office, real estate...