SAN FRANCISCO, Calif. – A restitution hearing for a former Cornwall alderman has been delayed a second time.
William Wise was sentenced in February to 22 years in prison for his part in a Ponzi scheme that defrauded more than 1,200 people out of more than $75 million U.S.
He pled guilty in September 2012 to 17 counts of major fraud and conspiracy tied to the sale of certificates of deposit associated with offshore banks.
The restitution hearing was supposed to happen on April 22, 2015 but was postponed until May 27, 2015 to allow the defence more time to go through a spreadsheet, over 9,000 rows long, detailing all the losses of each victim.
The matter will be heard July 22, 2015 at 2:30 p.m. Pacific in San Francisco, Calif.
No reason was given in the court records for this latest delay.