CHARLOTTE -- The Lexington man convicted for his role in what's been called one of the largest Ponzi schemes in U.S. history was sentenced Monday to 14 years and 8 months in prison.
Last year, a federal jury found 70-year-old Paul Burks guilty of wire and mail fraud and conspiracy for running the online site Zeek Rewards.
According to authorities, Burks pulled in some $900 million through the penny auction site and took money from millions of people. Many of those affected were located in North Carolina.
Prosecutors say the sites were shut down in 2012 after operating for less than two years.
After the sentencing, Burks had no comment. His attorney says they will appeal.
Burks was also ordered to pay $244 million in restitution but an attorny for the victims say it's unlikely to ever be paid.
Burks remains free on bond until the Bureau of Prisons locates a facility for him.