Elderly Ponzi Scheme Runners Face 80 Years in Prison Two elderly San Fernando Valley residents have been convicted for running a Ponzi scheme for 13 years, which netted them $100 million, and now potentially 80 years in prison. Joel Barry Gillis, 74, and Edward Wishner, 76, face up to 80 years in prison each for the Ponzi scheme charges. Both men pleaded guilty in federal court to two counts of mail fraud, one count of wire fraud, and conspiracy charges related to their long-running and very successful Ponzi scheme. Investors in the … [Read more...]