Clovis man accused of running $20-million Ponzi scheme; faces several charges

CLOVIS, Calif. (KFSN) -- A Clovis man is under arrest, accused of running a $20-million Ponzi scheme.

Federal investigators said 36-year-old Seth Depiano is charged with mail fraud, wire fraud, and money laundering in Las Vegas.

If convicted Depiano faces 20 years in prison for the fraud charges, 10 years for money laundering, and a $250,000 fine.