Three people convicted in a fraudulent Nebraska investment scheme have been sentenced to prison and ordered to make restitution of more than $16.6 million.
The three were sentenced on Wednesday in U.S. District Court in Lincoln.
Stella Levea and James Masat, both of Grand Island, were given eight years and a month in federal prison. Kenneth Mottin, of St. Libory, was given five years. They must serve three years of supervised release after leaving prison.
Levea and Masat were the principals of First Americans Insurance Service, which had been under investigation since a 2009 bankruptcy filing. Mottin worked for them.
Nebraska Attorney General Jon Bruning compared First Americans' dealings to a Ponzi scheme in which investors are promised high returns and early investors are paid with money from later investors.
Poll Question
Special Features
Most Viewed
- UPDATE: Names Released in Stabbing at St. Mary's Cathedral in Grand Island
- Employee in Attorney General's Office Arrested in Pot Bust
- Former Corrections Officer Faces Charges
- Stolen Car Found and Teen Arrested After Traffic Stop
- School Board Reprimands Nebraska Superintendent Cited with DUI
- Crimestoppers: Dumpster Diving Thief
- Novartis Begins Layoffs in Lincoln
- Give to Lincoln Day Raises Over 2M for Non-Profit Organizations
- 10/11 Investigates: How Safe Are Your Children in the Classroom?
- $1 Million Powerball Winning Ticket Sold in Lincoln
Most Commented
powered by Disqus
