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Ventura County News Roundup

THOUSAND OAKS : Man to Be Sentenced in Mail Fraud Case

December 25, 1991|RON SOBLE

A Thousand Oaks man is scheduled to be sentenced in February after being found guilty of mail fraud, according to a statement by U.S. Atty. Lourdes G. Baird in Los Angeles.

Jerrald Albert Tyler, 30, was found guilty on Dec. 19 of 16 counts of mail fraud stemming from about $2 million in investment funds he received and then wrongfully diverted to other purposes, Baird said.

Assistant U.S. Atty. Stanley Friedman, who was the prosecutor during the monthlong trial, presented evidence to show that Tyler participated in a Ponzi scheme, in which limited partnership investors' funds were used to pay earlier investors' dividends.

Tyler, who will be sentenced Feb. 24 by U.S. District Judge Dickran Tevrizian, faces a maximum sentence of 80 years imprisonment.

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