Three Ventura County residents are going to federal prison, after being sentenced in a nationwide investment scam that ended up in more than $27 million dollars in losses.
Prosecutors say brothers Alan and Wayne Flesher, along with Nancy Khalial told people their money would be used for a business which would put video screens displaying ads on top of ATM machines. Investigators say most of the machines never existed.
They say the scheme took in more than $40 million dollars from 2001 to 2005, victimizing close to 800 people.
All three defendants pled guilty to 17 counts of mail fraud. Alan Flesher was sentenced to 17 years in prison, while his brother Wayne received a six year sentence. Nancy Khalial received a four year sentence.
The trio was also ordered to pay more than $27 million dollars in restitution.