Dawn Bennett, a former Chevy Chase-based financial planner and host of a syndicated radio show, was sentenced Wednesday to 20 years in prison for 17 charges related to defrauding investors in her luxury sportswear company and running what prosecutors described as a Ponzi-like scheme to repay the company’s backers.
Bennett, 56, obtained more than $20 million in investments from 46 investors, many of whom were seniors who came to know her through her “Financial Myth Busting with Dawn Bennett” radio show, according to the U.S. Attorney’s Office for the District of Maryland. She used investor funds to pay earlier investors in the DJBennett.com clothing business or on lavish personal expenses, according to prosecutors.
“Dawn Bennett knowingly defrauded retirees of their life’s savings — most of which she used for her own personal benefit,” said U.S. Attorney Robert Hur in a statement. “She’s been held accountable for her lies and theft and will now spend years in federal…Read the full story from the Washington Business Journal.