- Associated Press - Tuesday, August 15, 2017

CHARLOTTE, N.C. (AP) - A North Carolina man is sentenced to 51 months in prison for scamming people out of more than $340,000 they expected to be invested for a quick profit.

U.S. Attorney Jill Westmoreland Rose announced Tuesday that 37-year-old Robert Winecoff of Huntersville also must reimburse his victims more than $175,000.

According to court records, Winecoff convinced his victims in 2013 and 2014 to invest with his bogus financial firm, claiming they would get large payouts within a few months. Prosecutors say each victim wired between $20,000 and $60,000 to Winecoff’s bank account. None received any money.

Prosecutors say Winecoff used the money to fund his lifestyle, including on hotels and airline tickets. He pleaded guilty last March to wire fraud. He is not eligible for parole.

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