A former Chicago man who pleaded guilty to swindling nearly $8 million from more than 50 victims who thought they were buying specially discounted stocks in Google, Facebook and other companies has been sentenced to 12 years in prison.
The U.S. attorney's office says 41-year-old Randy Cho of Seattle was also ordered to pay $7.9 million in restitution to investors and nearly $1.5 million to the Internal Revenue Service. U.S. District Judge James Zagel on Friday also ordered Cho taken into custody immediately.
Cho was arrested in late 2010 and pleaded guilty last August to wire fraud and tax fraud.
Prosecutors say Cho ran the scheme from locations in Chicago, Seattle, Boston and Newton, Mass.
Thursday, May 16 2013 9:49 PM EDT2013-05-17 01:49:53 GMT
Mayor Emanuel will celebrate two years in office by unveiling "Elevate Chicago" on Thursday, a series of construction projects to improve Navy Pier and McCormick Place.
Mayor Emanuel will celebrate two years in office by unveiling "Elevate Chicago" on Thursday, a series of construction projects to improve Navy Pier and McCormick Place.
Monday, February 25 2013 1:41 PM EST2013-02-25 18:41:37 GMT
Just as Oscar host Seth MacFarlane set his sights on a variety of targets with a mixture of hits and misses, the motion picture academy spread the gold around to a varied slate of films.
Just as Oscar host Seth MacFarlane set his sights on a variety of targets with a mixture of hits and misses, the motion picture academy spread the gold around to a varied slate of films.
Tuesday, May 21 2013 2:53 PM EDT2013-05-21 18:53:12 GMT
Police are asking for help to identify the body of woman or teen girl found strangled and badly burned in a Northwest Side Avondale neighborhood Dumpster Sunday night.
Police are asking for help to identify the body of woman or teen girl found strangled and badly burned in a Northwest Side Avondale neighborhood Dumpster Sunday night.
Tuesday, May 21 2013 2:28 PM EDT2013-05-21 18:28:22 GMT
Rescue crews aren't the only ones heading to help tornado victims in Oklahoma. Addison's Lutheran Church Charities sent ten comfort dogs to Moore on Tuesday, to help console victims.
Rescue crews aren't the only ones heading to help tornado victims in Oklahoma. Addison's Lutheran Church Charities sent ten comfort dogs to Moore on Tuesday, to help console victims.
Tuesday, May 21 2013 1:51 PM EDT2013-05-21 17:51:14 GMT
Emergency crews searched the broken remnants of Moore, Okla. for survivors of a tornado that flattened homes and demolished an elementary school. At least 24 people were killed, including at least nine children.
Emergency crews searched the broken remnants of Moore, Okla. for survivors of a tornado that flattened homes and demolished an elementary school. At least 24 people were killed, including at least nine children.
Tuesday, May 21 2013 1:12 PM EDT2013-05-21 17:12:24 GMT
Every time a tornado makes news, the local public cannot help but think about what happened in this area, back in 1967. A destructive storm system hit the southwest suburbs 46 years ago.
Every time a tornado makes news, the local public cannot help but think about what happened in this area, back in 1967. A destructive storm system hit the southwest suburbs 46 years ago.
