Wednesday, April 29, 2009

I Hart Ponzi

via Brian Rogers, Chron

The owners of Hart Galleries, a Galleria-area auction house specializing in antiques, were sentenced to 14 years in prison on Tuesday after pleading guilty to financial crimes in connection with their business.

Jerry Hart, 65, and Wynonne Hart, 61, pleaded guilty to misapplication of fiduciary property of more than $200,000, a first-degree felony, in exchange for prosecutors dropping charges of theft and laundering.

“Mr. Hart, you are a thief in a suit. Mrs. Hart, you are a thief in a dress.”


Judge Randy Roll said putting senior citizens in prison was difficult, but said they did not take any responsibility for stealing money from their customers. They had faced punishments ranging from probation to life in prison.

“It was a classic Ponzi scheme,” Roll said. “They were using the newest customers’ money to pay off the oldest customers.”

read the rest HERE


Nancy Lindley said...

Mr.and Mr. Hart are not only thiefs but they believe they are above the law. I fought them for several years to quit putting illegal bandit signs in my neighborhood and their security guard told me "Mr. Hart can put these sign out if he wants to...he pays his fines." Mrs. Hart and her maid took my trash one night trying to recover illegal signs I had picked up earlier in the day. The Harts received many tickets for this offense but never quit being offensive. I filed a complaint against their security guard. I never understood what he was found guilty of doing but it wasn't what I charged. Bureaucratic mumbo jumbo perhaps.