Prison Time For Bloomington Couple In Ponzi Scheme

By Tom McIntyre

December 2, 2010 Updated Dec 2, 2010 at 11:33 PM CDT

A Bloomington, Illinois couple who owned Wildwood Industries, Gary and Toni Jo Wilder, were sentenced Thursday to 15 years and seven years in prison for their role in a $213 million Ponzi scheme.

U.S. District Judge Michael Mihm also ordered the couple to pay $172 million in restitution to victims of the fraud scheme.

In July, Gary Wilder pled guilty to conspiracy to commit money laundering and bank fraud.

Toni Jo Wilder pled guilty to one count of conspiracy to commit money laundering.

Starting in 2000 and continuing to about April 2009, Gary and Toni Jo Wilder and others defrauded financial institutions and private lenders by providing false information to obtain lease funding for manufacturing equipment which did not exist.

To submit a comment on this article, your email address is required. We respect your privacy and your email will not be visible to others nor will it be added to any email lists.