RI financial advisor pleads guilty in $21 million ponzi scheme - ABC6 - Providence, RI and New Bedford, MA News, Weather

RI financial advisor pleads guilty in $21 million ponzi scheme

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By: News Staff

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PROVIDENCE, R.I. — A Rhode Island financial advisor who was charged for devising a $21 million ponzi scheme is scheduled to be sentenced in federal court Thursday.

47-year-old Patrick Churchville was found guilty of 5 counts of wire fraud and one count of tax fraud.

Churchville used $2.5 million of investor’s funds to buy his home in Barrington and failed to pay $820,000 in income taxes.

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