Encino Man Gets 9 Years for Defrauding Investors of Millions in Ponzi Scheme

The Ronald Reagan Federal Building and U.S. Courthouse is seen in Santa Ana, Calif., on May 28, 2010. Robyn Beck/AFP via Getty Images

SANTA ANA, Calif.—A 51-year-old Encino man was sentenced Dec. 18 to nine years in federal prison for a Ponzi scheme that defrauded 40 investors out of millions.

Motty Mizrahi pleaded guilty Jan. 6 to six counts of wire fraud and one count of aggravated identity theft. U.S. District Judge Cormac Carney will hold a restitution hearing at a later date.