LOUISVILLE, Ky. — An Indiana man was sentenced to 40 months in federal prison on Monday for wire fraud and money laundering.
According to court documents, 55-year-old Anthony Leonard found investors for a variety of supposedly educational software products from 2013 to 2019.
Leonard convinced investors to not only put money towards his companies, but to continue to pay after they were involved documents say. He convinced them with “material misrepresentations” including inflated sales figures and providing false bank statements according to documents.
Steven Whitaker, a public affairs officer with the United States Attorney’s Office Southern District of Indiana, said investors then continued to pay Leonard leading to losses of over $1.4 million.
Whitaker says Leonard and his wife used the money to buy property in New Albany, Indiana with a lake house and built a new house on that property, as well as expensive dinners, trips and other expenses.
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