Minnesota Man Sentenced For Stealing Neighbor’s Life Savings
Minneapolis (KROC AM News) - A Minnesota man has been sentenced to 6 years in federal prison for scamming a neighbor out of more than a quarter-million dollars - while he was waiting to go on trial for another scam.
Sentenced Wednesday was 57-year-old Jay Low of Plymouth. He was also ordered to pay restitution of $267,000.
Low admitted conning the woman into giving him the money to invest in a bogus pharmaceutical company with promises of high returns. Instead, he spent the money on a BMW, tuition payment for a family member, a $10,000 hot tub, jewelry, and other personal expenses.
The US Attorney’s office in Minneapolis says Low “committed this fraud scheme while he was on pretrial release after being charged in 2015 in a separate, unrelated $400,000 embezzlement case.”
He was sentenced to four years in prison in that case.