{"id":8474,"date":"2015-01-12T11:58:08","date_gmt":"2015-01-12T19:58:08","guid":{"rendered":"https:\/\/cjnotebook.com\/?p=8474"},"modified":"2015-01-12T11:58:08","modified_gmt":"2015-01-12T19:58:08","slug":"conman-duped-doctors-dentists-investing-2-3-million-sentenced-prison","status":"publish","type":"post","link":"https:\/\/cjnotebook.com\/?p=8474","title":{"rendered":"Conman Who Duped Doctors and Dentists into Investing $2.3 Million Sentenced to Prison"},"content":{"rendered":"
\"sea-ray_fbi\"<\/a>
An $80,000 Sea Ray boat purchased by David Rose and Seized by the FBI. (Photo: FBI)<\/figcaption><\/figure>\n

SANTA ANA, CALIFORNIA<\/strong> \u2013 An Orange County man who admitted targeting dozens of doctors and others in schemes that promised large returns on investments was sentenced to four years and nine months in prison on Monday.<\/p>\n

The victims were told that their investments would be in the medical and\u00a0fields.<\/p>\n

As a result, victims lost more than $2 million, officials said.<\/p>\n

U.S. District Judge James V. Selna sentenced defendant David Rose,<\/strong> 58, of\u00a0\u00a0Coto de Caza, after Rose\u00a0plead guilty in July to one count of wire fraud and one count of mail fraud.<\/p>\n

In a M.D. Venture Partners scheme, Rose caused approximately 32 victims to lose more than $900,000, according to court documents. In a Technology Innovation Partners, 45 victims lost more than $1.4 million.<\/p>\n

Throughout both schemes, investor funds were misused, with Rose using victims\u2019 money for personal expenses. \u00a0According to a plea agreement filed in court, Rose used investor funds to pay $7,500 monthly rent for a house in Coto de Caza, college tuition, and buy an $80,000 Sea Ray boat and shares in the Green Bay Packers.<\/p>\n

The FBI investigation revealed that no money was invested by either Venture Partners or Technology Innovation.<\/p>\n

As part of today\u2019s sentencing, Judge Selna ordered Rose to pay a total of $2.3 million as restitution.<\/p>\n

\u201cThe theft of more than $2 million by fraud is a serious offense, an offense in this case that took place over many years,\u201d prosecutors wrote in a sentencing brief.<\/p>\n

According to court documents, over a six-year period that ran through May 2011, Rose solicited physicians to invest in Ventura Partners, an Irvine company that falsely promised lucrative returns on investments in emerging medical technologies.<\/p>\n

In a subsequent scheme, Rose used Technology Innovation and Millenium Marketing Partners, both of Irvine, to solicit dentists and orthodontists to invest, claiming funds would be pooled and invested in a company developing ablation technology that would be used to remove wisdom teeth in children without surgery, officials said.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

SANTA ANA, CALIFORNIA \u2013 An Orange County man who admitted targeting dozens of doctors and others in schemes that promised large returns on investments was sentenced to four years and nine months…<\/p>\n","protected":false},"author":1,"featured_media":7271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,16,3],"tags":[1118],"class_list":["post-8474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fbi","category-home-main-slider","category-u-s-department-of-justice","tag-investment-scam"],"yoast_head":"\nConman Who Duped Doctors and Dentists into Investing $2.3 Million Sentenced to Prison<\/title>\n<meta name=\"description\" content=\"Conman\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cjnotebook.com\/?p=8474\" \/>\n<meta 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