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NC Ponzi scheme suspect returns to court in May

Paul Burks
Paul Burks

A preliminary court hearing for the North Carolina man accused of being the mastermind of one of the largest Ponzi schemes in U.S. history has been moved to May.

Paul Burks of Lexington was scheduled to be in federal court Monday. But his attorney, Noell Tin of Charlotte, asked for a delay so he and his client can sift through the evidence prosecutors have gathered against Burks. The former nursing home magician is accused of an online investment scheme that ran up almost $800 million in losses for victims in Charlotte and around the world. He faces up to 65 years in prison and a $1 million fine. Tin has said his client is innocent of all charges.

U.S. District Judge Max Cogburn has moved Burks’ next court appearance to May 18. Michael Gordon

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