Pella — Beverly DeRonde will spend 48 months (four years) in prison for what authorities have called a Ponzi scheme she ran between 2003 and 2010.
Deronde, 61, of Pella, was sentenced Wednesday in federal court. She pleaded guilty to soliciting loans from people, claming she needed to borrow money for presents or a startup business. She promised,"huge amounts of interest," according to prosecutors, then used new loans to pay off the older ones.
Authorities say she repeatedly missed repayment dates and asked victims to keep the loans a secret.
DeRonde must pay $680,376.93 in restitution and will spend three years on supervised probation after her release from prison.