Burt Marshall, the Hamilton businessman convicted in April of running a decades-long Ponzi scheme, was sentenced to four to 12 years in state prison in Madison County Courthouse on Thursday, June 11.

Marshall, 74, pleaded guilty in April to grand larceny, securities fraud and scheme to defraud. Prosecutors say he stole more than $90 million from nearly 1,000 investors over three decades, promising an 8% annual return on investments he claimed were backed by Madison County rental properties. Victims have recovered just four cents on the dollar.

Judge Rhonda Youngs imposed the sentence, which included a summary of several letters by Marshall’s victims recounting their suffering.  

“The harm is unfathomable and lifelong,” Young said, telling Marshall: “You are a con man…You lied. You cheated. You left a trail of devastation for future generations.”

During the proceedings, Marshall apologized to the people he harmed, nearly 40 of whom were present in the Wampsville courtroom. 

“I will be remorseful until the day I die,” Marshall said. 

According to syracuse.com, some victims struggle to believe Marshall’s remorse, overwhelmed by the decades of meticulous harm he inflicted on Madison County. 

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