- Associated Press - Tuesday, July 8, 2014

BURLINGTON, Vt. (AP) - A three-judge panel has upheld a 55-month sentence for a man who pleaded guilty to conspiracy in a $28 million movie fundraising fraud scheme in Vermont.

Malcom “Mac” Parker was sentenced last year for his role overseeing the fundraising and filming aspects of a movie project that shortchanged hundreds of Vermonters. A co-defendant, Louis Soteriou, received an 84-month prison sentence.

The Burlington Free Press reports (http://bfpne.ws/1natqb8) Parker’s lawyer appealed the length of the sentence. The 2nd Court of Appeals in New York City ruled Monday that the sentence was reasonable.

Court records say Parker, a well-known Vermont storyteller, persuaded about 700 people to invest in the film by offering double-digit interest payments on their money. About 400 of them ended up being owed money.

The movie was never finished.

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Information from: The Burlington Free Press, http://www.burlingtonfreepress.com