- Associated Press - Friday, December 30, 2016

CHICAGO (AP) - A 64-year-old former president of a suburban Chicago investment firm has been sentenced to nearly six years in prison for creating a shell company that he used to illegally divert money.

A Department of Justice statement says Christopher A. Jansen pleaded guilty earlier to wire fraud and income tax evasion. A federal judge in Chicago this week also ordered the St. Charles man to pay around $270,000 in restitution.

The onetime president of Baytree Investors, Inc., admitted under a plea deal that he created a shell company to buy a Huntley-based trucking firm, then borrowed money using the newly purchased company. Prosecutors say Jansen spent the funds on personal expenses without disclosing transactions to shareholders.

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