Man Gets Prison Time in Investment Fraud Scheme | NECN

Man Gets Prison Time in Investment Fraud Scheme

Luis Pavao of Ayer, Mass. will be locked up for more than 4 years

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    Man Gets Prison Time in Investment Fraud Scheme
    FILE - Getty Images

    A man has been sentenced in New Hampshire to over four years in federal prison after a jury convicted him in an investment fraud scheme.

    Prosecutors said 60-year-old Luis Pavao of Ayer, Massachusetts, secured the trust of three New Hampshire couples by pretending to be a licensed stockbroker.

    They said he persuaded them into giving him more than $32,000 by falsely promising to invest their money in the stock market, when he used it for personal gain.

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