Judge Sentences Ponzi Schemer for $10 Million Fraud

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BY FBI PRESS OFFICE – Today in Honolulu Federal Court, U.S. District Judge J. Michael Seabright imposed a 90 month prison sentence for convicted Ponzi schemer Patrick Rakotonanahary.

(Rakotonanahary, a 34-year-old Florida resident, admitted to stealing more than $10 million from 100 people by telling them he’d get them 6 to 10 percent on their investments.)


As a part of his sentence, he also must pay restitution due to victims totaling $3,473,563.

After he is released, he will be under supervised release for three years.

The judge also made it clear that Rakotonanahary likely will be deported to Madagascar following his prison term.

The judge also ordered the defendant immediately removed into Bureau of Prisons custody following the hearing.

The FBI hopes that this case will make the people of Hawaii take pause when offered high rates of investment returns with low risks.  Such a thing simply does not exist in the real world.

Submitted by FBI Press office