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Former Midland teacher, lacrosse coach receives nine years in prison for Ponzi Scheme

According to court documents, 55-year-old William Logsdon was able to convince community members to invest into his scheme.

55-year-old William Logsdon has been sentenced to nine years for his role in a Ponzi Scheme. 

The former Midland teacher and lacrosse coach was convicted of wire fraud as well as aiding and abetting wire fraud. According to documents, Logsdon and his mother-in-law, Jamie Thompson, used their influence with community members to convince them to invest in the Ponzi Scheme. 

Thompson previously plead guilty for her role and was sentenced to 60 months in prison and three years of supervised release. Both Thompson and Logsdon were able to take money from more than 20 victims that totaled more than $2.1 Million. They have also been told to "jointly-and severally" pay restitution over to the victims. 

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