A California man has been sentenced to more than four years in prison and fined more than 5.5 Million dollars for his role in a multi-million dollar investment scheme in Nevada.
James Williams of Sacramento and two others were accused of operating an investment and securities fraud scheme out of Incline Village and Las Vegas.
Authorities say the three operated companies in the late 1990s called Trans-World Investments and Trans-World International.
The companies offered investors access to a nonexistent program that promised profits of 30 percent monthly. State regulators shut those companies down.
But federal prosecutors say the trio formed a new company based in the Bahamas and continued operating through January 2000.
Williams pleaded guilty to money laundering charges in September and was sentenced Tuesday in Las Vegas.
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