Financial Host Sentenced For Role In Selling Ponzi Scheme
July 16, 2013 at 4:22 AM (PT)
Former "FOLLOW THE MONEY" syndicated financial radio show host PATRICK KILEY has been sentenced to 20 years in prison for his participation in a $194 million Ponzi scheme, reports the MINNEAPOLIS STAR-TRIBUNE. KILEY, who has insisted that he is innocent, allegedly helped sell a sham investment with partner TREVOR COOK that left at least 133 people losing over half their net worth. COOK was sentenced to 25 years in prison in 2010 for the same scheme. KILEY's sentence was served as 180 months for 13 fraud charges and 60 months for two money-laundering charges, served consecutively.
A plea for leniency accompanied by a psychological evaluation with claims that KILEY's mother was abusive drew an angry response from KILEY's brother MICHAEL O'BRIEN, another radio personality, who said in a letter to the court that the abuse claims were a "total fabrication" and that KILEY was "a bully. He had a history of being just plain mean. I will not allow him to trash the memory of my mother or my father.” Another letter from investor KEN LOCKLIN said that the psychological evaluation was part of KILEY's con game and that KILEY "now has changed his role to schlep as a helpless invalid bereft of ability or will of his own. Perhaps he should have been an actor."
The show aired on the shortwave WORLDWIDE CHRISTIAN RADIO network.