SAN DIEGO (AP) — A San Diego man has been sentenced to nearly 3½ years in prison for bilking investors out of more than $15 million
MAK 1 Enterprises Group owner Mohit A. Khanna was also ordered Monday to pay more nearly $16 million in restitution to more than 200 victims. He pleaded guilty in June to charges of conspiracy and filing a false tax return relating to a Ponzi scheme that afforded him luxury homes, fancy cars and lavish vacations.
Prosecutors say he enticed new clients with claims that he could earn them returns of up to 50 percent, then used their money to pay exorbitant returns to existing investors and to fund his own lavish lifestyle.
Khanna's lawyer and accountant pleaded guilty to related charges in August and are scheduled to be sentenced in December.
Copyright 2010 The Associated Press.
The always-heated topic of whether to begin holiday shopping on Thanksgiving Day will be raised again Thursday, as many chain stores will open their doors around San Diego one day before the so-called "Black Friday."
Thanksgiving could see record-setting heat in San Diego County, according to forecasters, who also reported the smashing of temperature records across the county on Wednesday.
A charity run, meals for the needy, a long-running music festival and holiday shopping are on tap for Thursday's Thanksgiving Day in San Diego.
Your living room often becomes your work space if you work from home. If you have kids, the house can be even more chaotic. Well now, more women are able to take 10-15 steps out of their home and into their "she shed."
Around 60,000 passengers are expected to pass through San Diego's Lindbergh Field daily during the upcoming holiday weekend.
Thanksgiving meals were provided to the needy around San Diego County Wednesday, one day ahead of the holiday.
A pedestrian was killed Wednesday night in a hit-and-run crash in the Mountain View section of San Diego and police detained the driver, who fled the scene on foot after the vehicle struck a house.
U.S. and Japanese ships and aircraft were searching in the Philippine Sea on Thursday for three sailors missing since a U.S. Navy aircraft crashed a day earlier.