Thursday, April 17, 2014
AUGUSTA, Ga. (WRDW) -- An Augusta business woman was sentenced to more than 23 years in prison for her role in a multi-million dollar investor fraud scheme.
Regina Preetorius, 47, was convicted of eight counts of mail fraud, two counts of wire fraud, and three counts of money laundering, a release said. Preetorius defrauded dozens of investors out of homes and over $1 million.
"The victims included private investors and distressed homeowners facing imminent foreclosure," the release said.
"This defendant stole millions of dollars in money and property from dozens of victims," United States Attorney Edward J. Tarver said. "Preetorius’s promises of realizing the American Dream quickly turned to nightmares for her victims. She now has over two decades in a federal prison cell to sleep on the harm she has caused others."
Preetorius was also ordered to pay $1,457,374.67 in restitution. After Preetorius is released from prison, she will serve three years of supervised release.