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Douglas County District Court Judge Vincent White sentenced Mark H. Polunci to seven years in prison for his involvement in a Ponzi scheme, Colorado Attorney General John Suthers and Colorado Securities Commissioner Fred Joseph announced Friday.
Polunci acquired $1.3 million from six investors between January 2005 and August 2006 by offering 10 percent to 20 percent rates of return, according to his indictment. Polunci, however, used the funds he took in to pay off previous investments. Polunci pleaded guilty to one count of securities fraud in April.
