Springfield man sentenced for Internet fraud
Tuesday, February 8, 2011
SPRINGFIELD, Mo. (AP) — A Springfield man has been sentenced to five years and four months in federal prison for promoting a fraudulent real estate scheme online.
The U.S. attorney’s office said in a news release that 51-year-old John Michael Sheehan of Springfield also was ordered Monday to pay $1 million to 21 investors who lost money.
Sheehan pleaded guilty in August to conspiracy to commit mail and wire fraud as well as a money laundering conspiracy. His 50-year-old wife, Alesia Claremae Sheehan, has pleaded guilty to her role in the conspiracy and awaits sentencing.
Sheehan operated businesses that went by the names of John Michael Investment LLC and 3MOM Inc.
Prosecutors said he used a website to solicit investments. In one case, he solicited money for a property he never bought.