Posted on: May 29, 2022, 08:05h.
Last updated on: May 29, 2022, 04:14h.
A 42-year-old man was sentenced to 10 years in prison on May 26 for allegedly defrauding more than a dozen investors in a complex swindle. The six-year scheme raised over $1 million. Some of the money was spent gambling at casinos, prosecutors said.
Sean T. Johnson, also known as Shawn Johnson, who last resided in Dallas, was sentenced by federal District Court Judge Richard J. Leon in Washington, DC.
After the prison term, Johnson will be placed on supervised release for four years.
Investors Lost Life Savings
Johnson must also pay restitution to victims of the scheme. Most victims lost their life savings, ruined their credit score, and went into foreclosure or bankruptcy because of the fraud, prosecutors said.
The plot took place between September 2012 and October 2018. Johnson was arrested in October 2018. He has been in custody since his apprehension.
In 2019, Johnson pled guilty to one count each of wire fraud and aggravated identity theft.
Based on a federal inquiry, prosecutors allege Johnson misled victims into investing into nonexistent entities. Johnson also lied…
