A Marion man was sentenced to more than nine years in prison for a development scheme used to steal thousands of dollars. Forty-nine-year-old Randy Beltramea admitted to collecting money from investors in 2009 and 2010 that he said would be used to invest in Subway restaurants, while he never intended to make the investments.
Beltramea instead used the money for his own real estate investments and personal expenses. He also admitted to forging documents to carry out the scheme, and hiding some of the money in his mother’s bank account to avoid detection by the IRS. U.S. District Court Judge, Linda Reade sentenced him to 111 months in prison, saying Beltramea was an “unrepentant flim flam artist.”
The judge also ordered him to pay nearly $377,000 in restitution.