California accountant sentenced to 63 months for $8.2M investor fraud

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A California accountant has been sentenced to 63 months in prison for defrauding investors of more than $8.2 million. Ethan Joseph Sanchez had assured investors their money would fund the construction of backyard homes. Instead, he lost the funds through high-risk day trading. A federal judge also ordered him to forfeit more than $8.2 million and pay restitution to the victims.

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