Woman divorcing husband who was sentenced in Ponzi scheme
JACKSON, Miss. (AP) — The wife of a former Mississippi businessman sentenced for the largest Ponzi scheme in state history is divorcing him.
The Clarion Ledger reports Vickie Lynn Adams is divorcing Arthur "Lamar" Adams. He was sentenced in October to almost 20 years in prison for the $100 million scam.
Prosecutors say he defrauded up to 300 investors, selling bogus timber rights and using new money to pay old investors.
Vickie Lynn Adams has agreed to sell the couple's property to help repay her husband's investors.
A federal judge approved a settlement last week reached by Vickie Lynn Adams and the court-appointed receiver to try to recoup some of the money. The judge also lifted a stay to allow the divorce to proceed.
The newspaper couldn't reach Vicki Lynn Adams for comment Monday.
Information from: The Clarion Ledger, http://www.clarionledger.com