Swindler gets 22 years in prison, bilked 300 victims of $10 million

Associated Press

A man who bilked 300 investors of $10 million has been sentenced to nearly 22 years in prison.

Prosecutors say William Lange spent the money on a lavish lifestyle. It included $115,000 Harley-Davidson motorcycles and a $2,300 stay at the Mirage in Las Vegas.

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According to The New York Times (http://nyti.ms/1BczEtt ), Brooklyn federal court Judge Dora Irizarry described Lange as "opportunistic" as she handed down the sentence on Thursday.

Lange pleaded guilty last fall to operating two schemes between 2007 and 2011 that swindled nearly 300 investors. Prosecutors say he defrauded homeowners and builders hit by Hurricane Katrina and in an Alaskan gold-mining operation.

Lange involved his brother-in-law and son in the schemes. A jury last year found them guilty of fraud.


Information from: The New York Times, http://www.nytimes.com