Today marked a legal milestone for victims scammed by former investment adviser Wes Rhodes.
Rhodes, 57, was sentenced to 10 years in prison for bilking dozens of investors out of at least $24.6 million. He was ordered to turn himself in for incarceration on June 1.
As reported in this WW cover story, Rhodes fooled investors by supplying statements that showed fake earnings on their money. But instead of investing their money, federal investigators say Rhodes spent it on himself — including building a personal museum of muscle cars and sports memorabilia.
The sentence caps a string of bizarre twists and legal maneuvers that let Rhodes delay for months going to prison.
Cate Garrison, a Rhodes victim and former WW staffer, writes on her blog: “…of course, for those of us who have undergone all this turmoil, ten years seem too short. But it’s something. And we are here, free, and moving on.”
- Wes “The Collector” Rhodes pleads guilty in federal court Wes Rhode
- Wes “The Collector” Rhodes indicted for bilking investors Former WW
- OFFICIAL UPDATE: Wes “The Collector” Rhodes Dodges Prison, For Now Today was
- Cover Story • The Collector [COVER STO
- Muscle Cars & Baseball Cards—An Alleged Scam Artist’s Fab Collection Anybody in
Tags: wes rhodes
I remember meeting wes a pasty faced egomaniac displaying his wife and yellow porsche turbo. he deserves what he got and then some.
I knew him when he was, briefly, chair of OBT’s board, and felt then that it was only a matter of time before some chicanery was revealed – he just oozed fakery. Sadly, I was proven right.