RICHMOND, Va. — A former College of Virginia and professional soccer participant has been sentenced to forty years for operating a $10 million fraud scheme that victimized greater than 50 buyers.
Federal prosecutors say in a information launch that 37-yr-previous Merrill Robertson Jr. of Chesterfield was sentenced Wednesday. He was convicted in August on 15 offenses, together with mail and wire fraud and cash laundering.
Prosecutors say Robertson and a co-conspirator operated Cavalier Union Investments in Richmond. Authorities say Robertson focused former coaches, donors, alumni and staff of faculties he had attended.
In accordance with the paperwork, Robertson bought promissory notes that he claimed would pay an annual return of as much as 20 %.
As an alternative, prosecutors charged, Robertson used the invested cash for automobiles, holidays and a luxurious suite at a soccer stadium.