Upstate New York Tax Preparer Accused of $95M Ponzi Scheme

Burt Marshall, who seemed like a trustworthy guy in a small town, is in big trouble.

He promised people high returns on their investments.

But instead of actually investing their money wisely, he used new money from new investors to pay off old investors, which is a Ponzi scheme.

Now, he's accused of stealing millions of dollars from nearly 1,000 people.

Many of his investors, including people who had saved their money for retirement, lost a lot of money.

The authorities say Marshall owes almost $95 million.

He is now facing charges and could go to jail.