LA man gets 25 years for $44M church scam
Nov. 3, 2009 |
AP
A man who bilked South Los Angeles churchgoers out of $44 million in an insurance scam has been sentenced to 25 years in federal prison.
Curtis D. Somoza, 41, of Westlake Village, was sentenced Tuesday in Los Angeles federal court. He pleaded guilty last year to conspiracy, mail fraud, and other crimes.
CA/Local News
A co-defendant, Robert Coberly, also pleaded guilty and awaits sentencing.
Federal prosecutors say the men got 64 people to invest in a company they claimed would buy life insurance policies for a church-based organization. Clients were promised a 25 percent annual return on the investment.
Instead, prosecutors say, the men used the money to buy luxuries that included a Ferrari and a raceboat.
The judge ordered Somoza to pay $44 million in restitution.
Copyright 2009 The Associated Press
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