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CEDAR FUNDING SENTENCING – 04/03/12 18:26 S.S.

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.

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