Donald Anthony Walker Young
Encyclopedia
Donald Anthony Walker Young, who is known as Tony Young or Walker Young, was the owner of Acorn Investments and Acorn II L.P.. He was indicted, pleaded guilty and was sentenced for running a $25 million Ponzi scheme
.
Young was raised in Fitzgerald, Georgia
. He used a fabricated life story to work his way into the Atlanta and then the Chester County, Pennsylvania
, polo
scene, where he met many of his victims. Before being shaken and ultimately brought down by a $20 million withdrawal of funds in 2008, prior to his indictment, Young also acquired vacation homes in Northeast Harbor, Maine
and Palm Beach, Florida
and encountered prospective and ultimate victims in these locales as well. He pleaded guilty in July, 2010, to mail fraud and money laundering. In May, 2011, he was sentenced to 17-1/2 years in prison.
Ponzi scheme
A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from any actual profit earned by the individual or organization running the operation...
.
Young was raised in Fitzgerald, Georgia
Fitzgerald, Georgia
Fitzgerald is a city in Ben Hill in the U.S. state of Georgia, and is the county seat of Ben Hill County. As of the 2010 census, the city had a population of 9,053...
. He used a fabricated life story to work his way into the Atlanta and then the Chester County, Pennsylvania
Chester County, Pennsylvania
-State parks:*French Creek State Park*Marsh Creek State Park*White Clay Creek Preserve-Demographics:As of the 2010 census, the county was 85.5% White, 6.1% Black or African American, 0.2% Native American or Alaskan Native, 3.9% Asian, 0.0% Native Hawaiian, 1.8% were two or more races, and 2.4% were...
, polo
Polo
Polo is a team sport played on horseback in which the objective is to score goals against an opposing team. Sometimes called, "The Sport of Kings", it was highly popularized by the British. Players score by driving a small white plastic or wooden ball into the opposing team's goal using a...
scene, where he met many of his victims. Before being shaken and ultimately brought down by a $20 million withdrawal of funds in 2008, prior to his indictment, Young also acquired vacation homes in Northeast Harbor, Maine
Northeast Harbor, Maine
Northeast Harbor is a village on Mount Desert Island, located in the town of Mount Desert in Hancock County, Maine, United States. The village has a significant summer population, and has long been a quiet enclave of the rich and famous. Summer residents include the Rockefeller family, as well as...
and Palm Beach, Florida
Palm Beach, Florida
The Town of Palm Beach is an incorporated town in Palm Beach County, Florida, United States. The Intracoastal Waterway separates it from the neighboring cities of West Palm Beach and Lake Worth...
and encountered prospective and ultimate victims in these locales as well. He pleaded guilty in July, 2010, to mail fraud and money laundering. In May, 2011, he was sentenced to 17-1/2 years in prison.