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Snellville man sentenced in NY for $5M scam

ROCHESTER, N.Y. -- A Georgia 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 Democrat and Chronicle of Rochester reported that 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 said 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 said 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.