A California man has been sentenced to more than four years in prison and fined more than 5.5 Million dollars for his role in a multi-million dollar investment scheme in Nevada. <\/P><\/p>\n
James Williams of Sacramento and two others were accused of operating an investment and securities fraud scheme out of Incline Village and Las Vegas. <\/P><\/p>\n
Authorities say the three operated companies in the late 1990s called Trans-World Investments and Trans-World International. <\/P><\/p>\n
The companies offered investors access to a nonexistent program that promised profits of 30 percent monthly. State regulators shut those companies down. <\/P><\/p>\n
But federal prosecutors say the trio formed a new company based in the Bahamas and continued operating through January 2000. <\/P><\/p>\n
Williams pleaded guilty to money laundering charges in September and was sentenced Tuesday in Las Vegas. <\/P><\/p>\n
News 4
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