Aberdeen businessman sentenced for felony wire fraud
ABERDEEN, S.D. (AP) — An Aberdeen businessman has been sentenced to two years in federal prison for fraud.
Authorities accused 54-year-old Marwin Hofer of using money from a Quantum Properties bank account to make a payment on a personal loan. He earlier reached a deal with prosecutors under which he pleaded guilty to one count of felony wire fraud and 17 other counts were dismissed.
The American News reports that Hofer was sentenced Monday. He’ll be on supervised release for three years after his prison term. He also was fined $30,000 and ordered to pay nearly $213,000 in restitution, of which all but about $19,000 has already been paid.
Information from: Aberdeen American News, http://www.aberdeennews.com