Slidell man must repay over $213K for defrauding investors

Editor April 3, 2017 Comments Off on Slidell man must repay over $213K for defrauding investors
Slidell man must repay over $213K for defrauding investors

SLIDELL– A Slidell man was sentenced to 18 months in jail and ordered to pay restitution after pleading guilty to one count of mail fraud, Acting U.S. Attorney Duane A. Evans announced.
U.S. District Judge Sarah S. Vance sentenced John Gibson to 18 months and ordered him to repay $213,597.35 to individuals he solicited money from, claiming he would create investment accounts for them.
Gibson will also have to serve three years of supervised release after he gets out of jail.
According to court documents, Gibson admitted that from 2008 to 2014 he solicited funds from individuals by falsely representing that he would use their funds to establish investment accounts.
Gibson admitted he defrauded his investors by diverting their investment funds for his own personal use and benefit.
Acting U.S. Attorney Evans praised the work of the United States Postal Inspection Service in investigating this matter. Assistant United States Attorney Sean Toomey was in charge of the prosecution.

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