AUGUSTA, GA (WFXG) - An Augusta woman was sentenced to more than 23 years in prison for her role in a multi-million dollar investor fraud scheme, according to the U.S. Attorney's Office, Southern District of Georgia.
Regina M. Preetorius, 47, was convicted in September 2013 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 more than $1 million, according to the attorney's office. The victims included private investors and homeowners facing imminent foreclosure.
Preetorius promised certain investors that they would make enormous returns off of their investments in real estate, according to the attorney's office. Instead, she used the homes and money to support her lifestyle.
Preetorius also was ordered to pay more than $1.4 million in restitution, according to the attorney's office. After she is released from prison, she will serve three years of supervised release.