St. Louis-area man sentenced for defrauding investors
ST. LOUIS (AP) — A suburban St. Louis man has been sentenced to more than eight years in prison for defrauding investors of nearly $300,000.
Robert Beyer II of Kirkwood was convicted in September of wire fraud and money laundering. He was sentenced Thursday in U.S. District Court.
Federal prosecutors say Beyer developed a fraudulent company known as Heroic Life Assurance Co. and solicited clients with promises of high returns. In fact, the U.S. Attorney's office says Beyer spent the investment money on things such as car repairs, child support and dating services.