A man convicted of bilking hundreds of Nebraskans out of $125 million — the largest Ponzi scheme in state history — is facing up to 20 years in prison, three years probation and a $250,000 fine.

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Kenneth Mottin, Vice-President of First Americans Insurance Service of Grand Island, pleaded guilty this month to mail fraud and is expected to testify against his partners, President Stella LeVea and Vice-President James Masat.

According to U.S. Bankruptcy Court records examined by the Nebraska Watchdog news service, at least 285 Nebraskans listed investments in First Americans; 220 were from the western part of the state, 49 from the Lincoln area and 16 from metro Omaha.

For the complete report on Nebraska Watchdog, click HERE.