West Roxbury Ponzi Scheme Suspects Get a Week to Mull Deal

It's make a deal or take their chances on a trial for accused Ponzi Scheme operators Stephen and Lori Palladino. The couple has a week to mull making an offer before the trial begins. 

Any deal would come with 10-12 years in jail for Stephen Palladino. Lori Palladino faces two years in jail and a five-year suspended sentence, and son Gregory, 28, could serve up to two years in jail, according to WCVB.com. The couple, with son Gregory, operated Viking Financial Group and are accused of stealing over $10 million from investors.

According to prosecutors, the Palladinos took money from investors, promising to use the funds to make loans for customers. Prosecutors content that the Palldinos used the money to line their pockets instead, and then sought new investors to pay off the original fundraisers.

Previous coverage of the Palladino case:

• Ponzi Scheme Defendant Tried to Collect Illegal 40% interest
• Palladino's Son, Previously Uncharged, Indicted for Larceny in Alleged $10M Scheme
• Victims of Palladino Fraud Urged to Contact SEC
• West Roxbury Family Arraigned on New Larceny Charges