A Plymouth man who defrauded a woman out of her life savings has been sentenced to six years in prison.
Jay Dean Low, 57, of Plymouth, has been convicted of one count of wire fraud and sentenced to six years in prison and three years of supervised release, the U.S. Attorney's Office says.
He also has been ordered to pay $266,737 in restitution.
According to the U.S. Attorney's Office, from September 2014-April 2016, Low made false representations about an investment opportunity that prompted a victim to give Low her life savings of about $266,000.
The victim believed her money would be invested in a pharmaceutical company. But in reality, there was no investment opportunity. Low had created authentic-looking documents that he periodically would provide to his victim to make the scheme look legitimate.
The U.S. Attorney's Office says rather than invest the money, Low fraudulently misappropriated all of the victim's investment funds for his personal use. He used the money to buy a BMW, pay tuition for a family member, bought a $10,000 hot tub, jewelry, and other personal expenses.
Low's fraud scheme happened while he was on pretrial release after being charged in 2015 in a separate, unrelated $400,000 embezzlement case.