A Hilton Head man is arrested for Wire Fraud and Identity Theft. 66 year old James Sadler was sentenced in federal court in Charleston to 57 months prison and 3 years supervised release. Sadler was also ordered to pay $123,800 in restitution.
Evidence presented at the guilty plea established that in 2006, Sadler claimed to be an expert financial advisor and convinced an individual in Hilton Head to take out a $100,000 second mortgage on her house for him to invest in the stock market.
At Sadler’s direction, the victim wired $100,000 from her bank in Hilton Head to a brokerage firm in New York. Sadler promised the victim that he would invest her money in low-risk securities. Unbeknownst to her, Sadler ordered checks and a debit card from the brokerage account and embezzled her money to buy more than $70,000 in gold coins.
Using the remainder of the victim’s investment, Sadler fled to the island of Malta off the coast of Italy.
The FBI traced Sadler to Malta, and the Justice Department obtained an international arrest warrant for his arrest.
In July 2009, Sadler was arrested on the international warrant by the Maltese police. Sadler was found in possession of a forged British identification card with his picture but in another person’s name, an Irish passport, and a U.S. passport.
The case was investigated by agents of the FBI and the U.S. Marshals Service. Assistant United States Attorney Rhett DeHart of the Charleston office prosecuted the case.
Article source: http://www2.counton2.com/news/2011/jan/07/head-man-arrested-wire-fraud-and-id-theft-ar-1314255/
Category: Prison Time