A former part owner of the Chattanooga Lookouts has been sentenced to almost eight years in federal prison for running a Ponzi scheme.
John J. Woods, who lives in Marietta, Ga., appeared before Judge Sarah E. Geraghty in Atlanta.
Prosecutors said the scheme totaled $110 million and over 400 people lost their investments.
Woods, 59, had pleaded guilty to one count of wire fraud.
He was also sued by the U.S. Securities and Exchange Commission.
Woods was ordered to pay up to $49.6 million in restitution.