(Source: United States Attorney's Office for the Central District of California) LOS ANGELES - An Orange County man who operated a Ponzi scheme that bilked victims out of more than $15 million with false promises of large returns from investments in debt obligations and distressed real estate was sentenced today to 57 months in federal prison. William Donnelly Yotty, 69, who lived in Lodi when he was operating the scheme, and was living in Monarch Beach when he was arrested in this case in May 2014, was sentenced this afternoon by United States District Judge Margaret M. Morrow. 'It is important that people who engage in business frauds face substantial sentences,' Judge Morrow said, noting...
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