Thursday, June 19 2014, 10:07 AM EDT
Woman to Be Sentenced in Federal Court for Ponzi Scheme
A Soddy Daisy woman found guilty of helping to run a Ponzi scheme through her business is scheduled to be sentenced in Federal Court in Chattanooga Thursday.
Janet Brown earlier pleaded guilty to a charge of bankruptcy fraud.
At a meeting of creditors in April last year, Brown admitted to lying about turning in, all of the jewelry that she owned..
The plea agreement says, three days later, Janet Brown handed over a bag containing a large amount of jewelry totaling 25-thousand dollars.
Brown is facing up to five years in prison, and a fine of up to 250 thousand dollars..
Jack Brown, who passed away back in September, was accused of stealing millions of dollars from local investors..
Depend on NewsChannel9 to update you on Janet Brown's sentencing later on Thursday.