A Texas man must repay investors $8.8 million for his role in an oil and gas investment scam. Brian Polito was sentenced to seven years in prison for his role in the fraud.
Polito pled guilty to mail fraud that was part of deception of energy investors.
From CBS DFW:
Investigators say Polito did not own or was not affiliated with oil and gas projects for which he solicited investors.
Prosecutors say Polito spent most of the investment funds on personal items such as pricey cars, including several Lamborghinis.
Government officials sold most of the cars, a home and other luxury items in an effort to make restitution to victims.
Polito had been running the energy investment scam since 2011.
Photo Credit: Sergio Russo via Flickr CC License
