Federal appeals court upholds conviction, sentence of Kentucky man in fraud scheme


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LOUISVILLE, Kentucky — A federal appeals court has upheld the guilty plea of a Kentucky man sentenced to prison for a scheme to defraud investors in three states.

The U.S. 6th Circuit Court of Appeals found that a magistrate judge didn't mislead 30-year-old Cory B George into taking a deal with prosecutors in 2012.

Prosecutors say George, the owner of G3 Capital Management, bilked clients out of more than $484,000. He admitted to setting up G3 offices in Owensboro; Palm Beach, Florida, and Houston.

Prosecutors say between December 2009 and April 2011, George mailed fraudulent certificates of deposit, deposited investor checks into a bank account in G3's name and mailed small interest payments to a Kentucky investor.

George is serving eight years at the federal prison in Marion, Illinois.

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