CHARLOTTE, N.C. — A man has been sentenced in a North Carolina federal court to more than seven years in prison for an investment fraud scheme that bilked victims out of more than $9.5 million.
The U.S. Department of Justice says Cassell Anthony Kuoh was sentenced on Thursday in federal court in Charlotte. Kuoh was also ordered to pay $16.2 million in restitution and is subject to deportation after completing his sentence.
Records show that from 2012 to 2016, Kuoh devised a scheme involving the purchase, shipment and export of gold and rough diamonds from Liberia.
Prosecutors say Kuoh used the investors’ money to fund his personal lifestyle. In March, he pleaded guilty to conspiracy to commit wire fraud. A co-defendant is also awaiting sentencing after pleading guilty to wire fraud conspiracy.