North Texas Man Sentenced For Defrauding Investors
DALLAS (AP) — A North Texas man was sentenced to nearly six years in prison for defrauding people seeking to invest in a restaurant franchise.
Michael David Carroll of Irving was sentenced Monday in federal court in Dallas. He was ordered to pay $1.4 million in restitution. He had pleaded guilty in April to wire fraud.
Prosecutors say the 38-year-old Carroll was a director of The Salad Bowl Franchise Corp. They say from 2008 to 2010 Carroll ran a scheme to defraud investors by inducing them to purchase a franchise from him.
He provided false financial data to investors, including inflated sales figures at some franchise locations. Carroll admitted to investigators that he had used investor funds for his own purposes.
He also acknowledged forging a signature to obtain a $23,000 loan.
(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
- $5,000 Reward Offered For Information On Cat Burning
- Father And Son Recovering After Dune Buggy Hits Bull
- Injured Rio Vista HS Football Player Joins Team On Sideline
- 2 Found Dead In Wendy’s Parking Lot
- 94-Year-Old Shows Adrenaline Knows No Age Limit
- Texas City Working To Turn Sewer Water Into Tap Water
- Plano Man Killed After Reentering Burning Home To Retrieve Phone
- Allen ISD’s $60 Million Football Stadium Closed For Months
- Spring One Day, Thundersleet The Next
- North Texas Man “Crowdfunds” $90,000 Birthday Party
- PHOTOS: Your Pet Pictures