Mr Bennett has pleaded guilty to federal charges of securities and wire fraud in relation to the $5m scheme and is due to be sentenced on 17 March. He could face up to 20 years in jail.
Rescued from Hudson River
The scheme began in 2008 when Mr Bennett was a sole practitioner, according to prosecutors. Before that he had worked as an associate at Skadden, Arps, Slate, Meagher & Flom. Mr Bennett was rescued from New York's Hudson River in November by the police when he attempted to commit suicide. The police discovered a note he had written that gave details of the Ponzi scheme. Source: ABA
Email your news and story ideas to: [email protected]
