Local man sentenced for operating Ponzi scheme
A Hamburg man will serve jail time for a decades long investment scheme.
Timothy Geidel employed a Ponzi scheme to bilk investors, many who were family and friends, of more than $1 million over twenty years. Geidel was given a three and a half year prison sentence in federal court. He is also required to repay $1.3 million.
Civil suits against the Geidel and the companies he represented are still pending.