WRCB Channel 3 Chattanooga News, Weather | Rivas Pleads Guilty
Member Center:
CHATTANOOGA (WRCB) -- A man will spend 24 years in prison for swinding Chattanoogans out of millions of dollars.
Luis Rivas was sentenced Thursday in federal court.
He led one of the biggest Ponzi schemes in the Southeast, cheating investors in 23-states out of $18-million.
But that amount was probably much larger, according to prosecutors.
Rivas once had an office in Chattanooga.
Some people gave him their entire life savings to invest.
Comments Terms of Use: We welcome your participation in our community. Please keep your comments civil and on point. You must be at least 13 years of age to post comments. By submitting a comment, you agree to these
Terms of Service
You must be logged in to leave a comment. Login or register See all comments |
;){kind=link}