Man Gets 40 Years for Securities Fraud
A Cincinnati man who is already in jail for committing securities fraud has been sentenced to 40 more years in prison after he used his companies to sell unregistered securities and keep the profits for his own personal use.
Jason M. Snelling was found guilty of selling unregistered securities to Indiana investors using the company names Cityfund Advisory and Dunhill Investments. In total, Snelling was able to take $3 million from the investors.
However, instead of using it for the investment purposes he had promised, Snelling instead used the money to pay for his own personal expenses, Indy Star reported.
Following his arrest and trial, Snelling was sentenced to 40 years in prison for his securities fraud crimes. He is already serving 10 years in a federal prison following a plea deal that he previously signed, and has also been sentenced to six years in prison to other securities fraud charges.