Businessman who defrauded Wisconsin agency gets 7 years
GREEN BAY, Wis. (AP) -- A De Pere businessman has been sentenced to more than seven years in prison for defrauding the state's economic development agency and other investors out of more than $9 million.
Ronald H. Van Den Heuvel was sentenced Wednesday after reaching a plea deal with federal prosecutors.
U.S. District Judge William Griesbach also ordered Van Den Heuvel to pay $9.4 million to his former investors.
The Green Bay Press Gazette reports Van Den Heuvel will serve the 7.5-year sentence at the same he serves a three-year prison sentence for a charge of bank fraud.
Prosecutors alleged Van Den Heuvel defrauded investors out of $9.4 million and used millions of those dollars to pay past debts, buy Green Packers tickets and provide his family with a lavish lifestyle.
Defense attorney Robert LaBell argued for a five-year prison sentence.