BULLETIN: 6-Time Felon Sentenced To 12 Years In Ponzi Scheme; Anthony Ray Will Serve ‘Every Day Of His . . . Sentence,’ Georgia Prosecutors Say

BULLETIN: A six-time felon who hatched a real-estate Ponzi scheme and swindled a dozen investors out of $660,000 has been sentenced to 12 years in a Georgia state prison, the office of DeKalb County District Attorney Robert James said.

Anthony Ray ripped off his own flesh and blood and met some of his victims at Pine Grove Baptist Church, prosecutors said.

“He had a total disregard for others to the degree he even stole from his own father,” said James. “I hope this case serves as a warning for residents to do a thorough background check on any investments that may sound too good to be true. They often are just that.”

Judge Gregory Adams also ordered Ray placed on probation for eight years after his prison release, prosecutors said, noting that Ray “will be required to serve every day of his twelve-year sentence.”

Ray was prosecuted on racketeering charges and pleaded guilty.