Donald Anthony Walker Young, who is known as Tony Young or Walker Young, was the owner of Acorn Investments and Acorn II L.P.. He was indicted, pleaded guilty and was sentenced for running a $25 million

Ponzi scheme A Ponzi scheme (, ) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. Named after Italian businessman Charles Ponzi, the scheme leads victims to believe that profits are comin ...

. Young was raised in Fitzgerald, Georgia. He used a fabricated life story to work his way into the Atlanta and then the Chester County, Pennsylvania,

polo Polo is a ball game played on horseback, a traditional field sport and one of the world's oldest known team sports. The game is played by two opposing teams with the objective of scoring using a long-handled wooden mallet to hit a small hard ...

scene, where he met many of his victims. Before being shaken and ultimately brought down by a $20 million withdrawal of funds in 2008, prior to his indictment, Young also acquired vacation homes in

Northeast Harbor, Maine Northeast Harbor is a village on Mount Desert Island, located in the town of Mount Desert in Hancock County, Maine, United States. The original settlers, the Someses and Richardsons, arrived around 1761. The village has a significant summe ...

and

Palm Beach, Florida Palm Beach is an incorporated town in Palm Beach County, Florida. Located on a barrier island in east-central Palm Beach County, the town is separated from several nearby cities including West Palm Beach and Lake Worth Beach by the Intracoas ...

and encountered prospective and ultimate victims in these locales as well. He pleaded guilty in July, 2010, to mail fraud and money laundering. In May, 2011, he was sentenced to years in prison."Ponzi schemer with ties to MDI gets 17 years in prison"
, ''Bangor

aine Aine may refer to: * Áine Áine () is an Irish goddess of summer, wealth and sovereignty. She is associated with midsummer and the sun,MacKillop, James (1998) ''Dictionary of Celtic Mythology'' Oxford: Oxford University Press pp.10, 16, 12 ...

Daily News'', May 05, 2011 7:32 pm. Retrieved 2011-05-05.

References

Living people Pyramid and Ponzi schemes People from Fitzgerald, Georgia People from Chester County, Pennsylvania People from Northeast Harbor, Maine People from Palm Beach, Florida Year of birth missing (living people) {{US-business-bio-stub

See also

References