Man Gets 20 Years in Elaborate Ponzi Scheme

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    NEWSLETTERS

    Henry Fisher has been sentenced to 20 years behind bars after he tricked dozens of people into investing into homes that were not on sale in the first place. News4's Jackie Bensen reports.

    A Potomac, Maryland man will spend the next 20 years in prison after he tricked dozens of people into investing into homes that were not on sale in the first place.

    Prosecutors say Henry Fisher, 60, received more than a million dollars from 23 investors for six properties in Potomac and Bethesda. But the homes were never for sale.

    All six properties were priced low, a tempting chance for an investor to double or triple their money.

    One victim, who did not want to be identified, told NBC Washington he lost over $80,000 of his life savings.

    "I liked him, personally. I mean, I know he was a business acquaintance, but I trusted him, and I was very close to having my daughter and my sister invest money with him," the man said.

    Another victim, who also asked not to be identified, said Fisher took $20,000 to make him a partner in a property on Burning Tree Road in Bethesda last year. But the home wasn't for sale.

    Fisher was later charged with burglary for breaking in to give his investor a "tour" of the home.

    Prosecutors say Fisher would use the money from one investor to pay off another... to keep the con going.

    Court records show Fisher served jail time for defrauding investors of more than $7 million in a similar Ponzi scheme in Montgomery County in the mid-90's. 

    "Twenty years behind bars gives Mr. Fisher a long time to think about all the people he duped, all the money he stole," Ramon Korionoff with the Montgomery County State's Attorney's Office said.

    Fisher's sentence includes paying back the money he took from people; something his first victims are still waiting for, News4's Jackie Bensen reported.