Woman sentenced for felony false pretense

A woman accused of operating a Ponzi scheme was sentenced on a false pretense felony charge on Monday in Pike County.

Gina Palasini, 54, was sentenced to 10 years with three suspended, and a judge ordered her to enter a restitution center, her attorney Josh Bogen said.

Palasini is currently serving a 10-year sentence for felony false pretense in Wayne County, and she faces 19 federal counts of fraud and money laundering, as well as sentencing for a bad check charge in Sunflower County.

Palasini was initially arrested in the fall of 2014 amid a Clarion-Ledger investigation that found she had bilked victims out of thousands of dollars. Her federal indictment alleges she earned more than $1 million through a Ponzi scheme based in Mississippi and California.

Palasini created four companies that claimed to help clients obtain Veterans Affairs or Medicaid, but their money went to supposed interest payments to other clients and her own personal use, according to court records. She also encouraged clients to invest in fraudulent annuities in amounts ranging from $100,000 to $330,000.

Palasini is expected to be sentenced in Sunflower County on Feb. 22 and a plea agreement deadline has been set for her federal charges on March 14.

Contact Mollie Bryant at mbryant2@gannett.com or 601-961-7251. Follow @MollieEBryant on Twitter.