PENDLETON, S.C. (WBTV) - The South Carolina man who admitted to running a multimillion-dollar Ponzi scheme and stalking two TikTok content creators will spend the next 13 years in prison and pay more than $14 million in restitution.

Ponzi scheme

Pendleton resident Michael J. French, 42, established MJF Holdings, LLC and MJF Capital, LLC and starting in 2019, offered promissory notes through these two companies to investors for a projected return of 12% yearly.

Investigators found that French told investors the funds would be used to provide loans to small businesses and that he wouldn’t get paid unless the notes earned more than the 12% he promised to them.

TikTok stalking

Instead, French used investor money to fund his lifestyle and spend thousands of dollars each month on two TikTok

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