Source: United Press International
“A Texas man was sentenced Friday to more than four years in prison for running a $3.1 million Ponzi scheme that promised investors profits from promoting NBA preseason games. Timothy France Johnson, 63 of El Paso, was sentenced to 51 months in federal prison and ordered to pay a $3.1 million money judgment. According to prosecutors, Johnson spent 11 years convincing investors to give him money that he claimed would be used to promote NBA preseason basketball games. He then used the money to pay earlier investors and cover personal expenses.” (10/24/26)
https://www.upi.com/Top_News/US/2026/10/24/NBA-ponzi-scheme-prison-DOJ/5571792895001/