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Cornelius News

Sentencing in Cornelius investment scheme moved to November

Pair could face fines, prison time

Oct. 24. By Dave Yochum. The sentencing hearings for Marlin Hershey and Dana Bradley have been moved from Oct. 26 in the courtroom of Judge Frank Whitney to some time in November due to a related trial that will take place in Denver, Colo.

At least two Cornelius residents are testifying against Hershey in the Denver matter which involves a financial operator named Gary Dragul who has already pled guilty to fraud and will serve 120 days in jail.

Possible prison terms

Hershey and Bradley, both Cornelius residents, could face up to 20 years in prison having pled guilty to wire fraud conspiracy for orchestrating a large-scale investment scheme.

Federal prosecutors said they ran a classic Ponzi scheme.

According to filed court documents and the plea hearings, from approximately 2009 to 2021, Hershey and Bradley conspired to defraud numerous victims who invested in two unregistered securities offerings promoted by the defendants, Performance Retire on Rentals and Distressed Lending Fund.

Both projects eventually failed causing significant losses to investors, many of them local. Bradley lives on Waterview while Hershey lives on Fisherman’s Rest, in homes valued at $1.4 million andd $2.5 million respectively.