PEORIA, Ill. – Kenneth W. Lewis, 57, of Augusta, Georgia and Cranford, New Jersey, was sentenced today in Peoria to 22 years, 7 months in federal prison.
U.S. District Judge James E. Shadid handed down the sentencing on wire fraud and money laundering charges.
Lewis was also ordered to pay $5,565,406 in repayment to his victims.
Evidence presented by the prosecutors showed Lewis began to take money from investors in the late 1990’s for secretive financial transactions he said would generate a profit for them.
He managed to collect the $5.5 million to pay for his living expenses while he was allegedly completing these transactions, which prosecutors say did not actually occur.