THE SEASIDE MILLIONAIRE (WHO MADE MOST OF THAT MONEY WITH A PONZI SCHEME) HAS BEEN SENTENCED TO 8 YEARS IN PRISON. 61 YEAR-OLD DAVID NILSEN, WHO OWNED MONTEREY-BASED CEDAR FUNDING, HAS ALSO BEEN ORDERED TO PAY 70 MILLION DOLLARS IN RESTITUTION. HIS COMPANY TOOK IN MORE THAN 100 MILLION DOLLARS FROM ABOUT 16 HUNDRED INVESTORS BEFORE DECLARING BANKRUPTCY IN MAY OF 2008.