William Del Biajio's Ponzi-Style Scheme

William Boots Del Biajio III was arrested on December 4, 2008 and charged with one count of securities fraud. A separate criminal complaint filed by prosecutors in the US Attorney's Office in San Francisco says Del BiaJio obtained $100 million in loans and loan guarantees from 13 banks and private lenders. It was discovered that Boots had also taken in $20 million of individual investments from close friends and acquaintances in a Ponzi-style scheme. The savior of a beleaguered fan base and franchise has exposed as a phony on this episode of Swindled. He was sentenced to eight years in prison and ordered to pay $67.4 million in restitution to the banks, NHL