Local Police Reports

Former Sugar Grove Man Sentenced to 63 Months in Federal Prison for Mail Fraud in Operating a $9 Million Ponzi Scheme

ROCKFORD, IL-(ENEWSPF)- An Aurora, Illinois man was sentenced today by U.S. District Judge Frederick J. Kapala to 63 months in federal prison for mail fraud involving his operation of a Ponzi scheme, in which he fraudulently obtained money from a number of investors who were promised extraordinary returns from his company, Financial Update, Inc. ALGIRD M. NORKUS, 67, of Aurora, formerly of Sugar Grove, Illinois, was also ordered to serve three years of supervised release…

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