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Article: INFORMATION ISSUED BY U.S. ATTORNEY'S OFFICE FOR MARYLAND ON MARCH 27: LEADER OF $17 MILLION INVESTMENT FRAUD SCHEME SENTENCED TO OVER 3 YEARS FOR MAIL FRAUD, MONEY LAUNDERING CONSPIRACY
- Article from:
- US Fed News Service, Including US State News
- Article date:
- March 27, 2008
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The U.S. Department of Justice's U.S. Attorney's office for Maryland issued the following press release:
U.S. District Judge William M. Nickerson sentenced Joseph Poteat, age 61, of Danville, Virginia, today to 37 months in prison, followed by three years of supervised release for conspiracy to commit mail fraud and conspiracy to commit money laundering in connection with a fraudulent investment scheme, announced United States Attorney for the District of Maryland Rod J. Rosenstein. Judge Nickerson deferred ruling on the restitution amount, awaiting further information about the victims' losses. A restitution order is expected to be filed within 90 days.
According to the plea agreement, ...