Wesley Snipes lost millions in Ponzi scheme

Last year, actor Wesley Snipes was sentenced to three years in federal prison after he was convicted of tax evasion. He's been allowed to remain free while he goes through the appeals process -- but that hasn't helped him avoid other financial problems.

The New York Post reports that Snipes may have lost "millions" to an alleged Ponzi scheme run by Lincoln Fraser and Jared Brook. The pair went on trial in England at the end of last month on charges that their investment company Imperial Consolidated bilked investors out of nearly $400 million.


So to recap, here's how Wesley Snipes' financial strategy appears to have worked out: He evaded taxes, resulting in massive fines and a probable three-year stint in federal prison. Then he took the money that he was skimming and invested it in an alleged scheme where he ended up losing it anyway. That's like cheating on your wife and getting a deadly STD in the process.

Meanwhile, Snipes is set to return to the big screen with director Abel Ferrara in an action movie called Game of Death. The pair last worked together on the 1990 cult classic King of New York.

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