Sassman sentenced to 18 Years in Prison, $4.5 Million in Restitution
William Arthur Sassman II entered a guilty plea this past November on 13
alleged counts of grand theft in a case prosecuted by the U.S. Justice
Department. Last Friday, he was sentenced to 18 years in prison and ordered
to pay $4.5 million to victims.
Sassman reportedly convinced elderly individuals to invest in supposedly “high-return” and safe vehicles, foreclosed and commercial properties, the production of a laptop computer stand, as well as annuity, stock, and foreign currency investments.
According to the Justice Department, Sassman allegedly repaid earlier investors with money from new ones, and rarely paid the high returns promised.
In an ironic twist, it appears that what little money Sassman did invest went into operations which may have victimized him. These reportedly include a "Nigerian swindle" stock-trading program, run by a group indicted for a Ponzi scheme.
If you have been a victim of financial fraud, it is imperative that you speak with an experienced investment fraud lawyer about your case right away. While on our website, order your FREE copy of renowned investment and securities fraud attorney David P. Meyer’s book, Five Signs of Investment Fraud and What to Do If It’s Happened to You.