Long prison sentence for man convicted in Ponzi scheme

Perry Griggs
Perry Griggs

HONOLULU (HawaiiNewsNow) - The man who ripped off Hawaii residents of four million dollars was sentenced Friday to more than 7 years in prison.

Perry Griggs and his wife Rachelle operated a Ponzi scheme.

Rachelle was already sentenced to four years in prison.

Rachelle Griggs claimed her husband was the brains behind the scheme, she was also ordered to repay her victims nearly $2 million.

Perry Griggs will undergo 3 years of supervised release after serving 87 months in jail.

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