MISSOULA, Mont. (AP) -- A 66-year-old Kalispell, Mont. accountant has been sentenced to five years of probation and ordered to repay $201,000 for an investment scam that defrauded a lumber company of $350,000.
Jesse Shaderic Wall was sentenced Friday during a hearing before U.S. District Judge Dana Christensen in Missoula. Wall pleaded guilty to wire fraud in April.
Prosecutors say beginning in 2008, Wall convinced officials with RBM Lumber Co. to invest money with him, promising a higher rate of return than they could get from the bank. However, when RBM sought return of the money in February 2011, Wall was unable to do so.
Charging documents alleged Wall used at least some of the money for his struggling business. Officials say he repaid $190,000 to RBM in June 2011.
http://news.yahoo.com/mont-man-sentenced-investment-scam-200201367.html
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