Sioux Falls, South Dakota, USA, businessman Tim Burns, who scammed investors in a scheme to build a USD 11 million fish farm, was scheduled to be sentenced on Monday.
Back in July, Keloland reported that Global Aquaponics founder Tobias Ritesman – who dubbed himself “The Tiger” had been sentenced to nine years in prison and ordered to pay back nearly USD 700,000 in restitution in the Global Aquaponics scheme.
Now, sentencing for Ritesman’ associate Tim Burns – who was found guilty of all charges scamming investors in the Global Aquaponics project out of tens of thousands of dollars – has been delayed.
Judge Schreier said: “I had my 20-year anniversary as a judge last week and I’ve never had an incident like this.”
In April, a jury convicted him of five counts of wire fraud. Investors, who could buy ownership units at USD 25,000 each, were told that Global Aquaponics had USD 5.6 million for the project and hoped to raise an additional USD 5.4 million from investors.
In July, SalmonBusiness detailed the full con that was built on the promise of a sustainable aquaponic model – in which investors were told would be replicated across the country to franchisees.
The publication reported that Burns’ attorney Mike Butler must now file his new objections with the state within a week to give federal prosecutors a chance to respond and a new sentencing date will be set.