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Ponzi schemer's share of jet is transfered

John R. Padova, U.S. District judge for the Eastern District of Pennsylvania, approved the transfer of convicted Ponzi schemer Tony Young's 25 percent interest in a 1976 Lear jet to the company that owns the jet.

John R. Padova, U.S. District judge for the Eastern District of Pennsylvania, approved the transfer of convicted Ponzi schemer Tony Young's 25 percent interest in a 1976 Lear jet to the company that owns the jet.

In exchange, that company, N2DD Inc., will forgive the $49,192 that Young owes for insurance, maintenance and other costs. Additional costs of $4,000 were to be incurred this month for pilot training, according to court documents.

Young, who pleaded guilty last month to a $25 million fraud, operated an investment firm in Kennett Square.    - Harold Brubaker