Investors were told by the trio who ran the Ponzi scheme that money placed in cattle and marijuana ventures would produce profits of up to 20% in weeks.
Michael Avenatti earned fame for being a major antagonist of then-President Donald Trump. At one time he even considered a White House candidacy himself.
Former Theranos CEO Elizabeth Holmes was sentenced Friday in U.S. federal court. She faced a maximum of 20 years in prison for fraud.
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