Ponzi scheme mastermind ordered to repay millions

HARRISBURG, Pa. (AP) — A Florida man who is going to prison must repay millions of dollars for running what prosecutors say was a Ponzi scheme he used to finance a life of luxury.

A federal judge in Pennsylvania sentenced Sean Healy today to serve nearly 16 years in prison and to repay nearly $17 million to bilked investors.

The 39-year-old Healy pleaded guilty last year to two counts of wire fraud and one count of unlawful monetary transactions.

Prosecutors say he promised to buy securities for the investors, but instead spent the money on a waterfront mansion in Weston, Fla., jewelry and exotic sports cars.

The bulk of the money came from investors in Pennsylvania.