BULLETIN: U.S. Man Extradited From Argentina Sentenced To 40 Years In Jail; William L. Walters Will Serve His Time In Colorado State Penitentiary
BULLETIN: A Ponzi schemer who fled the United States and was extradited from Argentina has been sentenced to 40 years in state prison, Colorado Attorney General John Suthers announced.
William L. Walters, 46, was brought back to the United States by the FBI, which worked closely with Colorado authorities to bring him to justice, officials said.
“This sentence underlines our commitment to vigorously pursue and prosecute cases of financial fraud that victimize Coloradans,” Suthers said. “Our thanks to the FBI for helping us to ensure that justice delayed did not result in justice denied for Mr. Walters’ victims.”
Walters was caught after the FBI “tracked” him and INTERPOL “flagged” his passport, investigators said. An Argentinean court approved Walters’ extradition last year.
Victims of the scheme, which gathered $23 million, hailed from nine U.S. states.
The Walters’ case destroyed a common myth that “offshore” landing spots shelter Ponzi schemers from prosecution. The Colorado Division of Securities assisted in the probe.
Walters also was ordered to pay $9.5 million in restitution. His next landing spot is the Colorado Department of Corrections.