Mark Thompson, Wire Fraud and Conspiracy, New York NY, 2023

Former CEO Mark Thompson was sentenced to twenty years in federal prison after being convicted of orchestrating a $100 million Ponzi scheme that defrauded thousands of investors.

Thompson, 45, from New York City, was found guilty of wire fraud and conspiracy to commit wire fraud. The fraudulent scheme involved promising high returns on investments while using the money to fund his lavish lifestyle and pay off earlier investors with new funds. Thompson’s Ponzi scheme collapsed in 2022, leaving many investors facing financial ruin.

The FBI led a year-long investigation that uncovered Thompson’s elaborate scheme. Authorities seized over $50 million in assets from Thompson’s properties, including a luxury mansion, multiple cars, and high-end watches. Thompson was also ordered to pay $100 million in restitution to his victims.

During the trial, prosecutors presented evidence of Thompson’s lavish spending, including a $1.2 million jet, $250,000 worth of golf equipment, and a $75,000 watch. Thompson’s defense team argued that he was merely a victim of circumstance but was ultimately convicted by a jury.

‘Thompson’s scheme was a betrayal of trust that caused significant harm to his investors,’ said U.S. Attorney for the Eastern District of New York. ‘The sentence imposed today reflects the seriousness of this crime and sends a strong message that fraudulent schemes will be prosecuted to the fullest extent of the law.’

Thompson’s conviction is part of a larger trend of white-collar fraud investigations targeting high-profile individuals involved in Ponzi schemes. The sentencing hearing for Thompson took place in Brooklyn federal court before U.S. District Judge John Gleeson.