NASHVILLE, TN (WSMV) – The founder of a Nashville-based holistic wellness business was sentenced to eight years in federal prison on Friday, according to Acting U.S. Attorney Mary Jane Stewart.
U.S. District Judge William L. Campbell Jr. sentenced Howard L. Young, 75, to prison and ordered him to repay $693,128.66 in restitution for operating a Ponzi scheme in which he duped over 80 patients, financial institutions and investors out of nearly $700,000.
Young pleaded guilty in December after being charged with four counts of bank fraud, six counts of wire fraud and aggravated identity theft.
The charging documents allege, and Young admitted, that in 2015, Young founded Integrative Medical Services (IMS), purportedly a holistic wellness business. Young also said he was a doctor of naturopathy but did not…