Naples, FL - A Southwest Florida man's been sentenced to four years in prison after he took part in a fraudulent investment scheme against an elderly couple.
According to the Florida Office of Financial Regulations, Konstantinos Konstantinou of Naples offered to purchase United States Treasury Bonds for the couple.
However, Konstantinou was not a registered securities dealer when he solicited the investment.
Konstantinou then misused the investment money, including purchasing a personal residence for himself in North Carolina.
The couple is believed to have lost over $700,000 in the scam.
OFR Commissioner Russel C. Weigel III tells NBC 2 News "thank you to OFR’s investigative team and the State Attorney’s Office, 20th Judicial Circuit, Economic Crimes Unit, for their diligent efforts in this case. The Office of Financial Regulation will continue to work tirelessly to bring financial criminals to justice.”
Konstaniou pled guilty in September.
In addition to four years in prison, Konstantinou was also ordered to serve 25 years probation and pay $707,395 to the victims.