Victims Want Convicted Ponzi Schemer Put Away For A Long Time
By Tony Hanson
PHILADELPHIA (CBS) - A Bala Cynwyd, Pa. man, who targeted friends, business associates, church members, and 12 step addictive communities in a $7 million Ponzi scheme, blames his addictive personality and looks for leniency. Victims have told the court he is the Michael Jordan of schemers and he deserves a sentence long sentence.
Victims have told the judge defendant Ira Pressman is the ultimate schmoozer, a professional con man and a financial rapist. One woman says Pressman targeted her shortly after the sudden death of her husband.
"One of the last things my husband said to me was continue to run the business because it will give you an income, help you make money."
Within months, she says, Pressman, who had done business with their company, scammed her and destroyed her credit.
"So what it has left me with is, I have to sell my house, I am selling off my personal property, I have sold my jewelry, I drive an 11-year-old car. I don't live large, I don't live fancy. But this has totally, I mean I'm almost out of money."
She says she is on food stamps and has money that might last her another two months.
The sentencing continues on Friday, when the judge is expected to announce the penalty.
