Chandler resident Anthonie Ruinard, Jr., was sentenced in November by U.S. District Judge Susan M. Brnovich to serve 87 months in federal prison after previously pleading guilty to charges related to his oversight of an investment fraud scheme.
Ruinard, 40, had pleaded guilty to wire fraud in April. At his sentencing hearing on Nov. 17, he was also ordered to pay $4,508,057 in restitution to victims in the case. He will be subject to three years of supervised release after serving his prison sentence.
Court documents show he spent investors' funds on lavish lifestyle expenditures, including dropping $344,000 on a 2017 Terradyne Gurkha armored vehicle.
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