A former Chicago man who pleaded guilty to swindling nearly $8 million from more than 50 victims who thought they were buying specially discounted stocks in Google, Facebook and other companies has been sentenced to 12 years in prison.
The U.S. attorney's office says 41-year-old Randy Cho of Seattle was also ordered to pay $7.9 million in restitution to investors and nearly $1.5 million to the Internal Revenue Service. U.S. District Judge James Zagel on Friday also ordered Cho taken into custody immediately.
Cho was arrested in late 2010 and pleaded guilty last August to wire fraud and tax fraud.
Prosecutors say Cho ran the scheme from locations in Chicago, Seattle, Boston and Newton, Mass.
Thursday, May 16 2013 9:49 PM EDT2013-05-17 01:49:53 GMT
Mayor Emanuel will celebrate two years in office by unveiling "Elevate Chicago" on Thursday, a series of construction projects to improve Navy Pier and McCormick Place.
Mayor Emanuel will celebrate two years in office by unveiling "Elevate Chicago" on Thursday, a series of construction projects to improve Navy Pier and McCormick Place.
Monday, February 25 2013 1:41 PM EST2013-02-25 18:41:37 GMT
Just as Oscar host Seth MacFarlane set his sights on a variety of targets with a mixture of hits and misses, the motion picture academy spread the gold around to a varied slate of films.
Just as Oscar host Seth MacFarlane set his sights on a variety of targets with a mixture of hits and misses, the motion picture academy spread the gold around to a varied slate of films.
Tuesday, May 21 2013 12:26 PM EDT2013-05-21 16:26:50 GMT
Police are asking for help to identify the body of woman or teen girl found strangled and badly burned in a Northwest Side Avondale neighborhood Dumpster Sunday night.
Police are asking for help to identify the body of woman or teen girl found strangled and badly burned in a Northwest Side Avondale neighborhood Dumpster Sunday night.
Tuesday, May 21 2013 12:18 PM EDT2013-05-21 16:18:32 GMT
Search-and-rescue crews worked through the night after a tornado barreled through the Oklahoma City suburbs. At least 24 people were killed, including nine children. Those numbers were expected to climb.
Search-and-rescue crews worked through the night after a tornado barreled through the Oklahoma City suburbs. At least 24 people were killed, including nine children. Those numbers were expected to climb.
Tuesday, May 21 2013 11:45 AM EDT2013-05-21 15:45:21 GMT
Every time a tornado makes news, the local public cannot help but think about what happened in this area, back in 1967. A destructive storm system hit the southwest suburbs 46 years ago.
Every time a tornado makes news, the local public cannot help but think about what happened in this area, back in 1967. A destructive storm system hit the southwest suburbs 46 years ago.
Monday, May 20 2013 8:33 PM EDT2013-05-21 00:33:23 GMT
A Merrillville police officer shot a man Monday afternoon when the two got into a fight in the parking lot of the Merrillville Planned Parenthood office.
A Merrillville police officer shot a man Monday afternoon when the two got into a fight in the parking lot of the Merrillville Planned Parenthood office.
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