None — PITTSBURGH (AP) -- An Arizona man will spend four years in prison for running a pyramid scheme that bilked victims who though they were investing in a business to refurbish repossessed mobile homes in hurricane ravaged areas.
Jason Unangst, 36, was also ordered to pay nearly $2 million in restitution to investors he defrauded while running the two-year scam when he lived in Wexford.
Prosecutors said Unangst persuaded investors to put up $2.9 million for the venture but simply lived off their money while repaying a select few. He pleaded guilty in March to charges including money laundering.
Unangst was confined to his Chandler, Ariz. home until late January but was taken back into custody because prosecutors said he violated his bond by running another scam.