Scott M. Ross Has Been Sentenced to Six Years in Prison for Swindling $5 Million from 150 Victims in Investment Fraud Scheme
CHICAGO—A northwest suburban man was sentenced to six years in federal prison for engaging in an investment fraud scheme that swindled more than $5 million from approximately 150 victims who invested in funds he purported to operate. The defendant, Scott M. Ross, who pleaded guilty to mail fraud in March, was sentenced yesterday, Patrick J. Fitzgerald, United States Attorney for the Northern District of Illinois, and Robert D. Grant, Special Agent in Charge of the Chicago Office of the Federal Bureau of Investigation, announced today. Ross misused money he raised from investors for his own benefit, including salary and a stadium sky box, and to make Ponzi-type payments to certain customers who complained.