Federal prison sentence for man convicted of fraud, other crimes

By KevinMarcilliat, In Federal Crimes, 0 Comments

An investment scheme that preyed on the religious beliefs of its victims has resulted in a 43-year-old man from Raleigh being sentenced to over 26 years in federal prison.

According to prosecutors, the man was part of an investment scheme that took over $2 million from investors. Returns of 100 percent within a month were sometimes promised to the investor. Another man, also from Raleigh, has not been arrested yet, but prosecutors believe he was involved in the scheme, too.

The charges the man faced were money laundering, mail fraud, wire fraud and conspiracy. It’s been seven months since he was found guilty in federal court by a jury. In addition to the 26-year-plus sentence, the defendant was also ordered to pay restitution of over $2 million.

A U.S. Postal Inspection Service’s inspector in charge said that investors need to remember that when something sounds too good to be true, it very likely is.

Federal crimes carry severe sentences and penalties. When you’re sentenced to federal prison, there is no parole. This is one reason why it is vital that your defense attorney and you develop a strong defense strategy. While there may be a plea offer from the prosecution, it’s not something that is offered in every case. In addition, a plea bargain isn’t in the best interest of every defendant.

Your attorney will discuss a plea bargain with you, but it is ultimately up to you as to whether you accept it. Your attorney will help you determine if you should fight your case at trial or take a plea bargain.

Source: The News & Observer, “Raleigh man going to prison for investment fraud,” Jan. 11, 2016

Related Links: