South Dakota Ponzi Schemer Gets Nine Years

May 20 2014 | 2:29pm ET

A federal judge has thrown the book at a South Dakota hedge fund fraudster.

Randy Hansen was sentenced yesterday to nine years in prison. Hansen was convicted in January of ripping off investors in his RAHFCO hedge funds to the tune of $18 million in a Ponzi scheme.

Prosecutors had sought 11 years or more for Hansen.

Hansen’s co-conspirator, Anthony Johnson, is already doing time for the crime.

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