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Wednesday, Jan. 11, 2012

Woman sentenced in gift card ponzi scheme

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A 44-year-old woman has been sentenced to three years in jail for wire fraud and ordered to pay more than $880,000 in restitution in a gift card ponzi scheme, the U.S. Attorney’s Office announced today.

Annette Marie Bussart, age 44, of Summerville, offered friends and acquaintances in the Columbia area American Express, Wal-Mart, Target, Shell, and Visa gift cards at a discount of around 20 percent to 50 percent off face value, according to a news release from the U.S. Attorney’s Office.

Benson was paying face value for the cards and making up for the loss with money coming in for new cards, the U.S. Attorney said, with proceeds wired into various bank accounts she controlled. The ponzi scheme eventually collapsed.

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Forty-two victims have been identified, and each will get a share of whatever Benson is able to pay toward the $880,000 owed.

From Staff Reports

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