Bee reporters answer questions about area crime news, trends and other issues.
QUESTION: I was wondering if you have more information on Garry Bradford. He was arrested on approximately April 19, 2011.
Submitted by: Bill, Sacramento
ANSWER:Garry Bradford pleaded guilty in August 2011 to four counts of federal wire fraud in connection with a real estate Ponzi scheme.
He initially was to have been sentenced in U.S. District Court in Sacramento in April 2012, but the sentencing was continued. According online court records, sentencing is scheduled for April 12 of this year.
According to stories in The Bee, Bradford was president of a local "investment club" that took in $2.2 million from local investors between 2004 and 2008 to purchase land and local commercial buildings.
The club, dubbed the Millenium Capital Group, promised returns of about 18 percent to investors who dipped into their retirement accounts or refinanced their homes to invest with Bradford.
He was indicted by a federal grand jury in April 2011. Federal prosecutors said Bradford later admitted that he used money he solicited from new investors to pay "bogus returns" to older investors.
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