Rochester man sentenced for wire fraud and money laundering - KTTC Rochester, Austin, Mason City News, Weather and Sports

Rochester man sentenced for wire fraud and money laundering

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MINNEAPOLIS (KTTC) -- A Rochester man has been sentenced to five years in prison for swindling more than $11 million from investors.

In a plea agreement, 35-year-old Jason Michael Meyer acknowledged misrepresenting himself as an experienced investor.

He pleaded guilty to wire fraud and money laundering last year.

Prosecutors say Meyer started a company called 3 Hooligans Investment Properties in 2007 and promised clients significant returns with little risk.

He deposited investor money in a bank account and used it to pay for personal expenses, according to prosecutors. Meyer found new clients and used their money to pay previous investors.

The FBI and Internal Revenue Service investigated the case.

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