Cladek will have 30-years to reflect

This morning, Historic City News reporters learned that Lydia Cladek will have 30-years in a federal prison to think about her crimes, which robbed investors of more than $100 million.

In addition to her prison sentence, Cladek was ordered to pay about $34 million in restitution — money that will most likely never be repaid.

The fourteen-count conviction of wire fraud, mail fraud and conspiracy earlier this year was scant comfort to friends, fellow church members, and followers who trusted Cladek with their life’s savings. In some cases, due to proceedings in bankruptcy court, investors in Lydia Cladek, Inc., were ordered to pay the bankruptcy trustee for previously received interest payments from the company that had degenerated into nothing more than a high-dollar Ponzi scheme.

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