Former Downers Grove resident ordered to pay $3.7 million in restitution for Ponzi scheme
DOWNERS GROVE – A federal judge ordered a former Downers Grove man to pay more than $3.7 million in restitution for a Ponzi-like investment scheme he was convicted of operating with two other men.
The former Downers Grove resident Christopher Andersen, 57, met the two other defendants sentenced by the judge while in prison for unrelated crimes. After they were released, they joined together in a Ponzi-type investment fraud scheme that caused about 100 victims to lose more than $3.6 million, according to a press release from the Department of Justice.
Two of the defendants purported to run a business, Sundown Entertainment Inc., that bought and sold films and comic-book rights and together raised more than $7 million from approximately 150 investors, while the third defendant entered the scheme later and lulled victims with false assurances about their investments, according to a Department of Justice press release.
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