PITTSBURGH - A Washington County resident has been sentenced in federal court to 30 months imprisonment, three years supervised release, and ordered to pay $405,717.78 in restitution on his conviction of wire fraud and filing false tax returns, United States Attorney David J. Hickton announced today.
United States District Judge Nora Barry Fischer imposed the sentence on James Grimes, 35 of Lawrence, Pa.
According to information presented to the court, Grimes misappropriated $313,000.00 funds belonging to clients of his brokerage firm. He also failed to report the income realized on his tax return for the years 2007-2009.
Prior to imposing sentence, Judge Fischer explained that Grimes had preyed on the elderly and committed serious crimes. However, his remorse and understanding of the need to make amends justified a slight reduction in sentence..
Assistant United States Attorney James Y. Garrett prosecuted this case on behalf of the government.
U.S. Attorney Hickton commended the Federal Bureau of Investigation and Internal Revenue Service - Criminal Investigation for the investigation leading to the successful prosecution of Grimes.