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Agoura Hills Man Sentenced To Seven Years In Prison For Investment Scam

Posted on Wednesday, January 16, 2013 8:40am

An Agoura Hills man received a long federal prison sentence, after pleading guilty to wire fraud in connection with a fraudulent investment scheme.

Dean Gross was sentenced to seven years in prison, and order to pay more than $15 million dollars in restitution for what prosecutors called a Ponzi scheme.

They say he claimed to investors that he was an advertising industry veteran who could buy ad time, and space cheaply, and resell it at a big profit.

Investigators say the 50 year old man never used the money to buy advertising, but instead spent it on personal expenses.

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