(KRON) — A Danville man who pleaded guilty to a multi-million-dollar Ponzi scheme earlier this year was handed nearly a decade in prison. Edwin Emmett Lickiss, 78, pleaded guilty in federal court back in May to one count of wire fraud and another of money laundering.
Lickiss, according to the United States Department of Justice, is a formal financial advisor who defrauded more than 93 investors out of at least $9.5 million between 1998 and 2024. Lickiss would tell victims he was investing their money in exclusive, tax-free bonds that offered rates as high as 30%.
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According to the FBI, Lickiss told victims his own family had invested in the bonds, so he charged no investment fees, due to his own substantial profits. Investors were told they could redeem their money at any time.
The bonds did not exist…