DALLAS (AP) — Two North Texas men have been sentenced to federal prison over what prosecutors call a more than $6 million diamond investment scheme.
Craig Allen Otteson of McKinney was sentenced Thursday to 10 years behind bars. A federal judge in Dallas sentenced Jay Bruce Heimburger of Dallas to eight years in prison.READ MORE: 101 Texas Lawmakers Who Supported/Voted For New Abortion Law Being Threatened
Otteson and Heimburger in July pleaded guilty to mail fraud. Each must also repay $4.7 million.READ MORE: Texas Gov. Abbott Adds Property Tax Relief; Constitutional Amendment On Bail To 3rd Special Session Agenda
Investigators say more than 70 investors were scammed out of $6.4 million linked to buying and reselling diamonds on the international market. The scheme, going back to 2011, also involved fraudulently secured cash and property.
A third man, Christopher Arnold Jiongo of Houston, has also pleaded guilty to wire fraud and awaits sentencing.MORE NEWS: Federal Officials Confirm Many Haitian Migrants From Texas-Mexico Border Camp Staying In US
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