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FORT COLLINS, Colo.—A Fort Collins man has been sentenced to six years in prison and ordered to repay more than $1.8 million to investors after he was convicted of running a Ponzi scheme.
Gene Robert Little was convicted of securities fraud in August. He was sentenced on Monday.
Prosecutors say the 62-year-old used money from some investors to pay dividends to others. They say his company, Managed Cash Flow, solicited $11 million from more than 300 people by promising returns of up to 20 percent.
Prosecutors say 41 investors lost a total of $1.8 million.
