(AP) — A Kansas man whose Missouri-based company defrauded thousands of people out of more than $10 million has been sentenced to 30 years in prison.

Israel Owen Hawkins Jr., founder of Petro America Corp., was sentenced Tuesday for conspiracy, securities fraud, money laundering and other charges in a scheme that promised people big returns for investing as little as $100.

Prosecutors say Hawkins, of Kansas City, Kan., and others defrauded 12,000 victims of more than $10 million. Nine others had pleaded guilty to various crimes and four others were convicted at trial. Hawkins also was ordered to pay restitution of more than $10 million.

Three other people involved in the scheme were sentenced Tuesday, and others will be sentenced in the coming weeks.

 

 

(AP) — Federal prosecutors say a Kansas man should spend 30 years in prison for his role in a Missouri company that fleeced thousands of investors by promising

them immense wealth for as little as $100.

A sentencing memo filed last this week also recommends decades of prison time for two other top officials with Petro America Corp, which billed itself as one of the world’s largest companies despite having few assets.

Isreal Owen Hawkins claims the company he founded never went public because of government interference. He and four others were convicted in May for their roles in what prosecutors say was a $10 million scheme, and all will be sentenced next week.

Prosecutors recommended a 30-year sentence for Hawkins, 25-year term for Teresa Brown and 20 years for Johnny Heurung.