As of Thursday, January 17, 2013
© Copyright 2013
Gwinnett Daily Post
ROCHESTER, N.Y. — A Gwinnett County man has been sentenced in federal court in Rochester to eight years in prison for scamming more than $5 million from two western New York investors.
The U.S. Attorney's Office said Wednesday that 64-year-old Tony Leon Smith of Snellville, was also ordered to pay restitution of $5.175 million he stole from the victims in separate investment schemes.
Prosecutors say Smith claimed to be a multi-millionaire investor and used an elaborate scheme to convince his victims that he had experience in international investments. Officials say he convinced one victim to wire him $5 million to an offshore bank account in the Caribbean.
Instead of investing the funds, prosecutors say he wire transferred the money back to himself and others into bank accounts in Rochester.
More like this story
- Snellville man sentenced in NY for $5M scam ( January 17, 2013 )
- Broker in real estate scam given 25-year prison term ( May 4, 2010 )
- Hoschton man pleads guilty to bank fraud, conspiracy ( November 6, 2009 )
- Georgia man faces 7 years in prison on fraud charges ( April 27, 2010 )
- Macon man sentenced to 5 years for Ponzi scheme ( November 13, 2009 )
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