- Associated Press - Saturday, June 13, 2015

JACKSONVILLE, Fla. (AP) - A federal judge has sentenced a man to 10 years in prison for running a financial scheme that defrauded 48 victims out of their life savings.

U.S. District Judge Timothy Corrigan on Friday sentenced 50-year-old Scott Anderson Hall after he pleaded guilty to fraud and money-laundering charges.

The Florida Times-Union reports (https://bit.ly/1FYZ6p7 ) that Hall lured retirement savings away from the victims for supposed investments that were instead spent on luxury cars, property and other items.

Hall started a shell corporation called Abaco Securities International and listed himself as director. But prosecutors said the only location for the company was a post office box.

Court records showed that many of the victims were former Duval County School Board employees, including a former school principal.

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