Mesa father and son convicted in Ponzi scheme - New York News

Mesa father and son convicted in Ponzi scheme

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PHOENIX (AP) - A Mesa father and son have been convicted of operating a $100 million Ponzi scheme that targeted the area's Mormon community.

Prosecutors said Tuesday that 66-year-old Brent F. Williams and 42-year-old Guy Andrew Williams both were found guilty by a federal jury in Phoenix on 38 counts of conspiracy, wire fraud, mail fraud and money laundering.

They're scheduled to be sentenced Sept. 30 along with two co-defendants who pleaded guilty in the case.

Authorities say Brent Williams was chief financial officer of Mesa-based Mathon investment funds while Guy Williams was managing director.

Evidence at trial showed that the Mathon entities collected more than $100 million in funds from investors from February 2002 until April 2005.

The defendants allegedly used investor money to pay themselves salaries of more than $10 million.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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