The Defendant:
James Sadler, 66, of Hilton Head, South Carolina.
The Charges:
Wire fraud and identity theft
The Case:
While claiming to be a financial expert, James Sadler convinced his victim in Hilton Head to wire $100,000 from her bank to a brokerage account that he set up with a firm in New York. Using a checking account and a debit card from the account, he embezzled her money to purchase $70,000 in gold coins. He took the remained of her money and flee to the island of Malta.
The Conviction:
Sadler pleaded guilty in federal court in Charleston, South Carolina.
The Sentence:
On Jan. 7, 2011, U.S. District Judge Sol Blatt, Jr. sentenced Sadler to 57 months in prison followed by three years supervised release. He was also ordered to pay $123,800 in restitution.
