BETHESDA, MD — A former financial adviser from Chevy Chase was sentenced to federal prison Wednesday on charges related to a $20 million Ponzi scheme, according to the U.S. Department of Justice.

Dawn J. Bennett, 56, faces 20 years in prison, followed by five years of supervised release, for 17 federal charges, including wire fraud, conspiracy, and making false statements on a loan application. For her crimes, she also must pay $14,504,290 in restitution and forfeit $14,306,842. The sentencing comes nearly a year after she was convicted of defrauding elderly retirees of their life's savings.

"Dawn Bennett knowingly defrauded retirees of their life's savings — most of which she used for her own personal benefit," said U.S. Attorney Robert K. Hur. "She's been held accountable for her lies and theft and will now spend years in federal prison." According to prosecutors, Bennett received more than $20 million from 46 investors — most of them elderly — from December 2014 to April 2017. They say she solicited the investors and used their money to pay for her lavish lifestyle, legal fees, and earlier investors.

Some of Bennett's expenditures included astrological gems, cosmetic medical procedures, and religious rituals in India. The DOJ said back in 2018 that Bennett "paid a website operator to arrange for priests in India to perform religious ceremonies to ward off federal investigators."

Citing evidence in her trial, prosectors said that in May 2015, DJB Holdings, LLC obtained a $750,000 line of credit secured by the inventory of DJB Holdings, which Bennett owned and operated. To secure the line of credit, Bennett provided false statements to the bank. Bennett said her brokerage account had a net portfolio value of more than $4 million. In reality, the net portfolio value was $35.

The loan was strictly meant for business operations. However, Bennett used the proceeds for personal expenses. When the loan went into default, the lender notified Bennett — who said she was unaware and had been in China for eight months. Trial evidence, however, contradicted that claim. According to prosecutors, her personal credit card was used in the Chevy Chase and DC area during that time period.