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Justice News

Department of Justice
U.S. Attorney’s Office
Southern District of Georgia

Thursday, April 17, 2014

Augusta Business Woman Sentenced To Over 23 Years In Prison For Investor Fraud Scheme

AUGUSTA, GA:  REGINA M. PREETORIUS, 47, of Augusta, Georgia was sentenced yesterday to 280 months in prison by U. S. District Court Judge J. Randal Hall for her role in a multi-million dollar investor fraud scheme.  After a lengthy jury trial in September 2013, Preetorius was convicted of eight counts of mail fraud, two counts of wire fraud, and three counts of money laundering.

Evidence presented at trial and during sentencing showed that between 2004 and 2009, Preetorius defrauded dozens of investors out of homes and over $1 million.  The victims included private investors and distressed homeowners facing imminent foreclosure.  Preetorius promised certain investors that that they would make enormous returns off of their investments in real estate; instead, Preetorius used the homes and money to support her lavish lifestyle.

United States Attorney Edward J. Tarver said, “This defendant stole millions of dollars in money and property from dozens of victims.  Preetorius’s promises of realizing the American Dream quickly turned to nightmares for her victims.  She now has over two decades in a federal prison cell to sleep on the harm she has caused others.”

In addition to the ordered term of imprisonment, Preetorius was ordered to pay $1,457,374.67 in restitution.  After Preetorius is released from prison, she will serve three years of supervised release.  Regarding the length of the prison sentence, Mr. Tarver noted that parole was abolished in the federal system in 1984.

FBI Special Agent Paul Kubala and IRS-CI Special Agent Roger Garland conducted the investigation which led to the indictment.  Assistant United States Attorney C. Troy Clark and former Assistant United States Attorney David M. Stewart prosecuted the case on behalf of the United States.  For additional information, please contact First Assistant United States Attorney James D. Durham at (912) 201-2547.

Updated April 13, 2015