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Tampa Bay-Lakeland
Business Observer Monday, Feb. 20, 2012 9 years ago

New sanctions for Ponzi felon

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Ponzi schemer James Risher recently received new limitations from the SEC.

TAMPA — The U.S. Securities and Exchange Commission barred James Risher, who was convicted and sentenced to almost 20 years in prison for his role in a $21 million Ponzi scheme on Dec. 6, from association with financial professionals.

The SEC says the Sanibel resident is now prohibited from association with “any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization.”

Risher pleaded guilty to mail fraud, money laundering and engaging in an illegal monetary transaction in August for the Ponzi scheme that he operated out of Sarasota County, Lee County and Mars Hill, N.C. On Dec. 6, Risher was sentenced to serve 19 years and seven months in federal prison.

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