Businessman receives 51 months for Ponzi scheme
ROCKFORD – The co-owner of a McHenry County business has been sentenced to 51 months in federal prison for his role in a $7 million mail fraud Ponzi scheme.
James D. Bourassa was ordered to report to prison before 2 p.m. July 30. His business partner, Francis X. Sanchez, of Woodstock, is scheduled to be sentenced Aug. 13.
The men conducted the scheme through their business called InvestForClosures, according to the U.S. Attorney’s Office.
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