Ex-Investment manager sentenced in fraud scheme

November 19, 2013

ATLANTA (AP) -- Federal prosecutors say a former Atlanta investment adviser accused of stealing money from more than 50 clients has been sentenced to more than seven years in prison.

Officials said Monday that 37-year-old Benjamin DeHaan, of Decatur, stole more than $2.5 million of his clients' money between January 2010 and May 2012.

Investigators say DeHaan used the money to buy a new house in Memphis, Tenn. and pay other personal expenses.

After stealing clients' money, authorities say DeHaan emailed them fraudulent account statements.

DeHaan was charged with wire fraud and has been ordered to serve three years of supervised release after his prison term. He's also ordered to pay more than $6.9 million in restitution.

Prosecutors have said DeHaan represented more than 110 clients.