Posh Pa. Swindler Gets 17-1/2 Years For $23M Scheme
PHILADELPHIA (AP) – A con man who lured investors at polo and yacht clubs from Florida to Maine will spend 17-1/2 years in prison for a $23 million pyramid scheme.
A U.S. judge in Philadelphia says Donald “Tony” Young “took his act north” when he left behind his modest Georgia childhood and ingratiated himself with the country-club set in Chester County, Pa.
Thirty-nine-year-old Young gained the trust of a Campbell Soup heir and other wealthy investors, and ultimately built a sprawling mansion for his family.
Victims say he used his polo and yacht club memberships in Florida, Pennsylvania and Maine to make contacts.
Several say they are now penniless.
A public defender argued unsuccessfully that Young deserved a break because he admitted his crimes soon after federal regulators caught on to him.