Kentucky man gets 3 years in prison for fraud

BOWLING GREEN, Ky. (AP) — A Bowling Green man has been sentenced to three years in federal prison for defrauding nine people out of hundreds of thousands of dollars in an investment scheme.

U.S. District Judge Joseph McKinley handed down the sentence Thursday for 46-year-old Paul Carney. Earlier this year, Carney pleaded guilty to 20 counts of wire fraud and 12 counts of engaging in monetary transactions.

Carney acknowledged collecting money from several people between 2008 and 2011 under the premise that he would provide the funds to a stock trader who would invest in the stock market and return a substantial profit.

The Daily News reported (http://bit.ly/10rC0Lc ) that McKinley also ordered Carney to pay $886,925.62 in restitution to his victims.

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Information from: Daily News, http://www.bgdailynews.com

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