SUMMERFIELD, N.C. — On Friday, a Summerfield man was sentenced to nearly 20 years in prison after pleading guilty to wire fraud, money laundering, securities fraud, tax evasion and failure to file tax returns in connection with a $20 million Ponzi scheme.

According to the U.S. Department of Justice, 39-year-old William Lamar Rhew, III, was sentenced to 235 months in prison, which will be followed by three years of supervised release. Court records showed Rhew defrauded over 100 investors out of at least $24 million through his company Chadley Capital, LLC.

"Rhew touted the company’s increasing deal flow and underwriting standards and, in offering materials, claimed $300 million in transactions in 2023, consistent returns in excess of 20% per year, and nearly 74% total growth over 24 mont

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