FINANCIAL PLANNER SENTENCED

A former financial planner from Milton has been sentenced to over 4 years in federal prison after pleading guilty to wire fraud and failure to file tax returns. 50-year-old James A. Young III, convinced clients to invest more than $500,000 in false investments between 2010 and 2014, which included real estate investments for property he did not own and investments in an oil and gas company with which he had no relationship. In some cases, he used money from one investor to pay back another in an effort to keep the scheme going and also used the money for his personal use. Almost all of Young’s victims were between the ages of 55 and 90. He was ordered to pay over $400,00 in restitution to two dozen victims and over $125,000 to the IRS for unpaid taxes.