The offender pleaded guilty to fraud over $5000 and money laundering after operating a $29 million Ponzi scheme called Debit Direct.
He sold fake point-of-sale debit terminals to hundreds of investors and transferred the funds to the Dominican Republic.
The court sentenced the offender to 7 years in prison, less pre-sentence custody, and ordered $26.9 million in restitution along with a matching fine in lieu of forfeiture.
