Florida Guy Sentenced For Involvement In West Virginia Expenditure Plan – CBS Pittsburgh

CLARKSBURG, W.Va. (AP) — A Florida individual was once sentenced to additional than seven yrs in federal jail Friday for bilking a lot more than a dozen consumers out of just about $5 million.

Phillip W. Conley of Jacksonville, Florida, was once sentenced in federal court in Clarksburg for his accountable plea to a unmarried depend of securities fraud.

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Conley, 38, admitted to scheming 18 people from 2014 to 2019. The sufferers were from many states, which incorporates West Virginia.

Prosecutors mentioned Conley’s monetary dedication dealer’s license was once suspended in December 2015 however that he portrayed himself as an funding adviser. Conley mailed phony statements to sufferers that claimed a positive price of go back for his or her investments, even whilst he invested little or not one of the source of revenue.

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Instead, he spent significantly of it on private jet flights, prime priced meals, outfits, jewellery, housing, and dwelling prices for himself. Conley’s sufferers included smaller undertaking marketers along with church constructions in Charleston, Parkersburg, and Morgantown, prosecutors mentioned.

Conley previously agreed to forfeit house bought from the proceeds of the crimes.

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