Ellicottville man must pay back $5.6M
FBI probe snares man for phoney investments
Updated: Tuesday, 06 Oct 2009, 7:35 PM EDT
Published : Tuesday, 06 Oct 2009, 5:48 PM EDT
An Ellicottville man was sentenced to four years in prison Tuesday following his conviction in a multi-million dollar investment fraud case.
Robert C. Logel, 46, was ordered to pay back more than $5.6 million in restitution to 19 people. One of them happened to be Logel's neighbor who was allegedly defrauded out of $448,000.
An FBI investigation ended with Logel being charged in August 2008 with wire fraud. His victims included a Texas investor who trusted more than $2 million with Logel.
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