JACKSON, Miss. (WLBT) - New information about a 100-million dollar Ponzi scheme...the largest in Mississippi.
Federal court records show 72-year-old William “Bill” McHenry of Canton, has been found not guilty of one count of securities and commodities fraud and two counts of wire fraud in the case.
McHenry, the ex-business partner of Arthur Lamar Adams, had faced up to 60-years in prison if he had been convicted on all charges.
Adams was sentenced to 19-and-a-half years in prison for the scam.
McHenry recruited investors for Adams’ business, Madison Timber Properties, not aware that it was a Ponzi scheme.