A scheming financial advisor peddling "no risk investments" has been sentenced to 37 months in federal prison after pleading guilty to wire fraud and money laundering, the U.S. Attorney's Office said Friday.
Gregory Bell, 36, of Denver, defrauded about 30 investors of more than $1.2 million dollars - and used the money to fund a lavish lifestyle, prosecutors said.
"He lulled his investors based on his status as a licensed investment advisor with previous experience as a managing director at an investment firm" and "provided false statements showing substantial gains," prosecutors said.
Bell was also ordered to pay restitution and a fine.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.