ORCHARD PARK, N.Y. (WIVB) - An Orchard Park man who ripped off hundreds of people will spent the next six years in prison.
James Rotterman, who was convicted of wire fraud and tax charges, was sentenced Friday in federal court. The U.S. Attorney's Office says the 33-year-old formed two companies in 2006 and advertised that he had businesses for sale online. He would then provide false information to investors about the bogus businesses, bilking over $6,000,000 during the next four years.
Prosecutors say Rotterman used the cash he scammed to support his lavish lifestyle and pay off large gambling debts. Rotterman failed to report much of the income, with tax losses over $350,000.
On Friday, Rotterman was also ordered to pay $4.5 million restitution.
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