Rita & Richard Gosselin Sentenced for Ponzi Scheme - FOX 10 News | fox10phoenix.com

Rita & Richard Gosselin Sentenced for Ponzi Scheme

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The Ponzi queen of downriver is off to prison. It was an emotional day in court for victims of Rita Gosselin and her husband, Richard, but the Gosselins didn't seemed moved at all by their victims' tears.

Rita Gosselin showed no emotion as her victims told the court how the woman dubbed "Rita Ripoff" ruined their lives with her ponzi investment scheme.

"There's a lot of emotion here and it's caused me a lot of grief. She did it on purpose," said Dan Pulice, who lost $70,000 in the Ponzi scheme.

"I will pray that you find it in your heart and ask the Lord for forgiveness and make your wrong right by returning what clearly is not yours," said Michelle Flotte.

For the first time, Assistant Attorney General Kelly Carter released the amount of money Rita Gosselin nabbed. From her victims, Rita collected $2,473,739.

From mortgage companies, Rita and her husband Richard Gosselin took in another $1.8-million.

With the money still missing, some of her victims say Rita should do the max.

"I'll tell you what, if I got $3-million or $2-million in a hole, you going to put me in jail for five years? I'll go right now because in five years I'll come out and I'll have that money in the hole. Her kids will have it. Her grandkids will have it," Pulice said.

FOX 2's Rob Wolchek first exposed Rita Gosselin two years ago when her investors told him things weren't adding up. She claimed she had a thriving business buying homes for cash and then using her husband's construction company to fix them up and sell them for big profits. However, when we checked on the homes, they were run down and mortgaged to the hilt.

"The fact that you could stand here on the date of sentence after hearing several of your victims, several of the people that you victimized, and not shed one tear, not show one ounce of emotion," said Judge Annette Berry.

The judge chastised Rita for her lack of remorse before handing down a five to 20 year prison sentence.

Husband Richard Gosselin was given only twelve months in jail. He also showed little regard for his victims.

"I don't understand what I was supposed to do," he told the judge. "Was I supposed to cry?"

Well, here's something that may muster up some tears in Richard's eyes. He's got to pay the money back. At least $100,000 is expected from Richard Gosselin alone.

The judge thinks they're hiding money. Rita Gosselin was sentenced to five to 20 years. Now, here's how this works. Rita has to come up with at least a third of her victims' money before she'll be released from prison. Remember the amount is almost $2.5-million, which means unless Rita can come up with close to a $1-million, she'll be prison for the full 20 years.
 

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