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Richmond Co. | Columbia Co. | Aiken Co. |

Man sentenced to prison for continuing Ponzi scheme

Wednesday, Feb. 20, 2013 11:11 PM
Last updated Thursday, Feb. 21, 2013 12:33 AM
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An Augusta man previously involved in a Ponzi scheme was sentenced to prison after he pleaded guilty to a new charge of scamming investors and sports fans.

Superior Court Judge Sheryl Jolly sentenced Rod­ney Wade Grubbs, 43, to two more years in prison after he pleaded guilty to theft Monday, according to Assistant District Attorney Hank Syms.

Grubbs was arrested in November 2011 and has been jailed since. He was accused of soliciting money from a man to buy tickets to the Southeastern Conference football championship game and forging SEC invoices. Another man claims he gave Grubbs money in June 2011 to buy, then resell, tickets to the Major League Baseball All-Star game.

Jolly also revoked his original 2010 sentence of 30 years’ probation and $442,500 in restitution. He pleaded guilty to 12 counts of theft and three counts of forgery in 2010. Grubbs was accused of bilking three investors out of more than $500,000, starting in January 2008.

He told investors he would use their money to purchase hotel rooms and tickets to concerts and sporting events, including the Super Bowl and Masters Tournament.

Grubbs received no prison time on his original charge. After he serves the two years on the new charge, he must continue the restitution and remaining probation.

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jimmymac
33505
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jimmymac 02/21/13 - 01:41 pm
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WOW!
Unpublished

Why wasn't this man in prison in the first place. Some young punk breaks into a car and gets time in jail. This slimeball steals $500,000 and gets probation and a fine! Throw the judge involved in this case out on his rear and get someone who'll take care of business.

dstewartsr
20388
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dstewartsr 02/22/13 - 12:00 am
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This guy's going to prison

... for what Democrats have done ever since the "Social Security Trust Fund" was liquidated and used to pay off a generation of voters. They turned it into a blatant ponzi scheme where the last ones in will never see a dime.

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