Associated Press, Published June 23 2010
Guyana man sentenced in ND fraud caseFARGO (AP) — A Guyana man has been sentenced to more than seven years in prison for a bank-trading scheme that bilked investors from North Dakota and elsewhere out of millions of dollars.
U.S. District Judge Ralph Erickson on Wednesday sentenced 67-year-old Neville Solomon to 86 months in prison. A jury had earlier convicted Solomon on three counts of money laundering and one count of conspiracy to defraud the United States.
Erickson ordered Solomon to pay more than $2 million in restitution, but acknowledged that hundreds of thousands of dollars involved in the scheme was sent offshore and hasn't been found.
The judge said Solomon took advantage of desperate people by participating in the "worst kind of white collar crime."
Copyright 2010 The Associated Press.