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FORT COLLINS, Colo.—A Colorado judge has sentenced a 72-year-old man to five years in prison for his role in a Ponzi scheme that ran for more than 20 years.
The Larimer County district attorney’s office says several victims attended Richard Horace Mayfield’s sentencing hearing Friday. He pleaded guilty in July to theft.
Prosecutors said Mayfield preyed on elderly and at-risk adults, costing them more than $271,000.
At the time of his arrest in April, Mayfield was on probation for a misdemeanor theft case from 2008. The judge revoked his probation in that case and sentenced Mayfield to one year in county jail to be served concurrently with the theft sentence.
