The Globe and Mail reports in its Thursday edition the former owner of an Ontario Hockey League team has been sentenced to almost 22 years in prison after pleading guilty in a U.S. court to masterminding a $130-million (U.S.) Ponzi scheme and using investors' funds to buy a private jet and a Caribbean vacation home. The Globe's Janet McFarland writes a San Francisco judge sentenced William Wise to 262 months in prison after finding he misled 1,200 victims who thought they were making safe investments in certificates of deposit (CDs) paying up to 16-per-cent annual interest. Prosecutors charged that the funds were, instead, "primarily used to enrich Mr. Wise and to make interest payments to earlier CD purchasers." Mr. Wise, 64, is a lawyer by training and a native of Cornwall, Ont., who previously served two terms as a city alderman and owned the OHL's Cornwall Royals in the 1980s. He moved the hockey team to Newmarket, Ont., in 1992 and generated media coverage when he was fined $5,000 for spitting on a rival coach. In the late 1990s, Mr. Wise moved to Raleigh, N.C., where he set up an offshore bank called Millennium Bank, which was licensed in St. Vincent and the Grenadines.