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Car dealer gets 5 years in federal prison for Ponzi scheme to keep his business afloat

WILMINGTON, N.C. (WITN/Gray News) - A former car dealer was sentenced to five years in prison for running a Ponzi scheme to keep his business open.

Willard Sutton was sentenced in federal court in Wilmington, North Carolina.

Sutton owned Greenville Auto World and conducted an investment fraud scheme between 2019 and 2023, according to the U.S. Attorney’s Office.

He collected more than $63 million in investment funds over the four years, and 65 people lost nearly $9 million in the illegal scheme.

In addition to serving his prison sentence, the 64-year-old must pay $8,986,162 in restitution to the victims.

Greenville Auto World is under new ownership after being sold in bankruptcy court.

My commnt[u][/u]: tRUMP has done far, far worse. Over and over again. Including an insurrection against our government.

Why isn’t he in prison?
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That thought immediately crossed my mind, as well. 😳
samueltyler2 · 80-89, M
He is. King, sadly, by edict of his SCOTUS, he can't be prosecuted!
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SunshineGirl · 36-40, F
Trump's entire business career is the largest Ponzi scheme in history . .
@SunshineGirl Then there’s fake universities, fake charities, grifting off cheap Chinese Bibles, tRUMP “bucks”, etc.

Never an honest business venture…
SunshineGirl · 36-40, F
@KunsanVeteran In my opinion, a bankruptcy order should disqualify the bankrupt from doing anything other than a salaried job. You've screwed over your suppliers, your investors, your employees, the taxpayer . . you should not be in a position to rip off people again.

 
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