Bellefonte Man Sentenced To 17 Years In Prison For Securities Fraud
The United States Attorney’s Office for the Middle District of Pennsylvania announced that James Hocker, age 49, was sentenced on April 26, 2019, by United States District Court Judge Matthew W. Brann to 204 months’ imprisonment and three years of supervised release for committing securities fraud. Judge Brann also ordered Hocker to pay restitution to the victims in the amount of $1,495,782.62.
According to U.S. Attorney David J. Freed, Hocker, an insurance agent, defrauded approximately thirty-eight investors of more than $1.4 million from 2009 to 2018. Hocker told victims that he would invest their money in funds with guaranteed returns of up to thirty percent, but instead used the money for personal expenses. Many of the victims were elderly and liquidated their retirement accounts and insurance products in order to invest with Hocker.
The matter was investigated by the United States Securities and Exchange Commission’s Enforcement Division and the Federal Bureau of Investigation. Assistant United States Attorney Alisan V. Martin prosecuted the case.
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