For his part in aiding and abetting William Apostelos to run a $70 million dollar Ponzi scheme, attorney Steven Scudder was
criminally charged
early last year.

Scudder plead guilty to one count of wire fraud in January and was up for sentencing this week.

A thirty-eight sentencing hearing saw Scudder sentenced to fourteen months in prison plus two years supervised release.

Restitution Scudder will pay back is yet to be decided.

William Apostelos, the mastermind behind the 
Genesis Acquisitions
 Ponzi scheme, is scheduled to be sentenced on June 30th.

Apostelos is facing up to 25 years in prison and a fine of half a million dollars.

Several of Apostelos’ family members have also plead guilty to fraud. Apostelos’ sister and her daughter are up for sentencing on July 26th. His wife Connie Apostelos is scheduled to be sentenced on August 2nd.

🤖 Quick Answer

What was Steven Scudder's role in the Genesis Acquisitions Ponzi scheme?
Steven Scudder, an attorney, aided and abetted William Apostelos in operating a $70 million Ponzi scheme. He pleaded guilty to one count of wire fraud in January and was sentenced to fourteen months in prison plus two years of supervised release.

Who was the mastermind behind the Genesis Acquisitions fraud?
William Apostelos orchestrated the $70 million Genesis Acquisitions Ponzi scheme. He faces up to 25 years in prison and a half-million-dollar fine upon sentencing scheduled for June 30th.

Were other individuals involved in the fraud scheme?
Yes, several of Apostelos' family members pleaded guilty to fraud charges, including his sister and daughter, scheduled for sentencing on July 26th. Additional family members were also implicated in

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