Belgrade Man Guilty In Ponzi Scheme - ABC FOX Montana Local News, Weather, Sports KTMF | KWYB

Belgrade Man Guilty In Ponzi Scheme

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Richard Reynolds of Belgrade was found guilty Wednesday on six felony charges, some of which include operating a Ponzi scheme and embezzlement.

Prosecutors said Reynolds and his wife embezzled more than $4 million while only investing $100,000.

Reynolds could face up to 60 years in prison and fines of $170,000 or both.

Sentencing is set for March 11.

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