Man gets 12 years in prison in investment scheme - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

Man gets 12 years in prison in investment scheme

CHICAGO (AP) -

A former Chicago man who pleaded guilty to swindling nearly $8 million from more than 50 victims who thought they were buying specially discounted stocks in Google, Facebook and other companies has been sentenced to 12 years in prison.

The U.S. attorney's office says 41-year-old Randy Cho of Seattle was also ordered to pay $7.9 million in restitution to investors and nearly $1.5 million to the Internal Revenue Service. U.S. District Judge James Zagel on Friday also ordered Cho taken into custody immediately.

Cho was arrested in late 2010 and pleaded guilty last August to wire fraud and tax fraud.

Prosecutors say Cho ran the scheme from locations in Chicago, Seattle, Boston and Newton, Mass.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Heartland NewsNewsMore>>

  • Caruthersville police investigate deadly shooting

    Caruthersville police investigate deadly shooting

    Friday, July 20 2018 4:35 AM EDT2018-07-20 08:35:01 GMT
    (Courtesy: Heartland News)(Courtesy: Heartland News)

    Caruthersville police chief Tony Jones says his department is investigating a deadly shooting. 

    Caruthersville police chief Tony Jones says his department is investigating a deadly shooting. 

  • breaking

    FIRST ALERT ACTION DAY Today due to severe weather

    FIRST ALERT ACTION DAY Today due to severe weather

    Friday, July 20 2018 4:32 AM EDT2018-07-20 08:32:02 GMT
    A First Alert Action Day has been declared for Friday, July 20 due to severe weather. (Source: Stock image/Raycom Media)A First Alert Action Day has been declared for Friday, July 20 due to severe weather. (Source: Stock image/Raycom Media)

    A First Alert Action Day is being issued for Friday due to the threat of significant severe weather late in the day and into the evening.

    A First Alert Action Day is being issued for Friday due to the threat of significant severe weather late in the day and into the evening.

  • Research at SIUC aims to protect K-9s

    Research at SIUC aims to protect K-9s

    Thursday, July 19 2018 10:29 PM EDT2018-07-20 02:29:33 GMT
    K-9 dogs play a huge role in keeping us safe when disaster strikes. But who is keeping them safe? (Source: KFVS)K-9 dogs play a huge role in keeping us safe when disaster strikes. But who is keeping them safe? (Source: KFVS)
    K-9 dogs play a huge role in keeping us safe when disaster strikes. But who is keeping them safe? (Source: KFVS)K-9 dogs play a huge role in keeping us safe when disaster strikes. But who is keeping them safe? (Source: KFVS)

    K-9 dogs play a huge role in keeping us safe when disaster strikes. But who is keeping them safe?

    K-9 dogs play a huge role in keeping us safe when disaster strikes. But who is keeping them safe?

Powered by Frankly