KANSAS CITY, Mo. (AP) -- A northwest Missouri man who stole about $3.5 million from friends and neighbors in an investment fraud scheme will spend 11 years in prison with no chance of parole.
A federal judge sentenced 51-year-old Daniel Meredith of Excelsior Springs on Tuesday for promising his victims high profits on investments in a purported Bolivian land scheme and fake coffee house franchises.
His victims lived mostly in Missouri and Kansas. One lost millions of dollars and at least one other had to declare bankruptcy.
Federal prosecutors say Meredith claimed to have connections with former presidents Bill Clinton and George W. Bush and several other government officials.
Meredith spent the money at casinos, on horses and for an extravagant home.
Prosecutors say Meredith conducted the schemes between serving sentences for other cons.