- Associated Press - Monday, July 27, 2015

SANTA ANA, Calif. (AP) - A former Orange County yacht broker has landed in troubled waters for stealing from and bilking his clients out of more than $1 million.

Edward Fitzgerald was sentenced Monday to seven years in state prison after pleading guilty to dozens of fraud and theft charges.

Prosecutors say he used his Dana Point business to take $1.3 million from 26 victims.

Authorities say in some cases, Fitzgerald got loans from friends and acquaintances to buy boats for resale that he never purchased. He also stole deposits from people buying yachts and embezzled money after selling yachts on behalf of clients.

In 2009, Fitzgerald cleaned out his bank accounts and moved. He was arrested two years ago in Florida.

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