- Associated Press - Wednesday, December 10, 2014

PHOENIX (AP) - A Scottsdale man has been sentenced to 18 months in federal prison for wire fraud and money laundering.

Federal prosecutors say 51-year-old J’Sean Claude Butierries also was sentenced to three years of supervised release.

Butierries pleaded guilty in September to defrauding investors out of hundreds of thousands of dollars.

Prosecutors say he sold fraudulent investments and then used that money to buy expensive cars and other luxury items for himself and family members.

They say Butierries owned and operated a company that offered investors a more than 30 percent return, to be paid within 15 days.

However, Butierries wasn’t licensed or registered to sell securities.

He used the funds to purchase luxury cars himself and his wife plus a boat and several motorcycles.

Butierries has been ordered to pay restitution.

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