Summerfield man sentenced to nearly 2 decades in prison for Ponzi scheme

SUMMERFIELD, N.C. (WGHP) — A Summerfield man was sentenced to nearly two decades in prison on Friday for his involvement in a Ponzi scheme and tax fraud, according to the Department of Justice.

William Lamar Rhew, III, 39, pleaded guilty to:

  • wire fraud
  • money laundering
  • securities fraud
  • tax evasion
  • failure to file tax returns

The charges were in connection with a $20 million Ponzi scheme.

He was sentenced to 235 months’ (19 years and seven months) imprisonment followed by three years of supervised release…

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