Summerville woman draws three-year sentence for gift card Ponzi scheme | Crime | Summerville Journal Scene

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Summerville woman draws three-year sentence for gift card Ponzi scheme

Published Tuesday, January 17, 2012 12:26 PM

Summerville Journal Scene ®

A 44-year-old Summerville woman has received a three-year prison sentence for wire fraud.

According to U.S. Attorney Bill Nettles, a federal judge sentenced Annette Marie Benson, formerly Annette Marie Bussart, to three years in jail for Wire Fraud, a violation of Title 18, United States Code, Section 1343. U.S. District Judge Cameron McGowan Currie also ordered Benson to pay over $880,000 in restitution to the victims, Nettles said.

Evidence presented at the change of plea hearing established that Benson offered select friends and acquaintances in the Columbia area American Express, Wal-Mart, Target, Shell, and Visa gift cards for sale at a discount of around 20-50 percent off the face value. The cards were real and worked at retail stores, so demand was high. However, Benson was paying face value for the cards and making up for the loss on old sales with money coming in for new cards. Money to pay for the cards was wired into various bank accounts controlled by Benson. Eventually, the money Benson received could not cover her outstanding obligations, and the Ponzi scheme collapsed. Forty-two victims have been identified, and each will get a share of whatever Benson is able to pay towards the $880,000 owed. At the time of sentencing, Benson had negative income.

Agents of the Federal Bureau of Investigation investigated the case. Assistant U.S. Attorney Winston D. Holliday, Jr., of the Columbia office handled the case.

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