A Haltom City man is headed to prison for 25 years after being found guilty of taking $693,000 in a Ponzi scheme, Tarrant County Criminal District Attorneys say.
Ronald T. Dunn, 67, was sentenced Thursday on one count of theft of property over $200,000 and three counts of securities fraud over $100,000.
Officials said Dunn "financially devastated" 13 people, many of whom were elderly, while he was an agent with Prudential Financial. Though the corporation was not involved, or held responsible for Dunn's actions, they repaid his victims for their losses.
“Ronald Dunn left an endless trail of financial carnage throughout Tarrant County,” said lead prosecutor Matt Smid. “The victims in our case trusted him like they trust a friend or a family member and he abused that trust in the worst way imaginable.”
There may be more victims of Dunn’s Ponzi scheme, but none have been yet identified. If anyone has additional information, contact Tarrant County Criminal District Attorney’s Office at 817-884-1400.
Prior to this verdict, Dunn had no previous criminal record, prosecutors said.
