The offender, a former financial advisor, was convicted of Fraud Over $5,000 for operating a Ponzi-type scheme over eight years, defrauding multiple victims, many of whom were friends or elderly clients.
The court found the offender's breach of trust and the devastating financial and emotional impact on the victims to be significant aggravating factors.
The offender was sentenced to four years' imprisonment, ordered to pay restitution of $109,150, and issued a fine in lieu of forfeiture in the same amount, with six years to pay following his release.