- Associated Press - Friday, April 18, 2014

AUGUSTA, Ga. (AP) - Federal prosecutors say an Augusta businesswoman has been sentenced to more than 23 years in prison in an investment fraud scheme.

Authorities say 47-year-old Regina Preetorius of Augusta was sentenced to 280 months in prison for her role in a multimillion dollar investor fraud scheme. Preetorius had been charged with mail fraud, wire fraud and money laundering.

Prosecutors say between 2004 and 2009, Preetorius defrauded investors out of homes worth more than $1 million. Authorities say victims included private investors and homeowners who were facing foreclosure.

Instead of earning returns from their investments, prosecutors say victims’ money was used to support her lavish lifestyle.

Preetorious has also been ordered to pay more than $1.4 million in restitution.



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