A Las Vegas man was sentenced to more than five years in federal prison Friday for allegedly defrauding a South Lake Tahoe investor out of $2.9 million, according to a statement from prosecutors.
U.S. District Judge Garland Burrell Jr. sentenced Jed Baron, 55, of Las Vegas, to five years and three months for wire fraud related to an investment scheme, U.S. Attorney Benjamin Wagner announced in the statement.
“According to court documents, Baron made a series of false business proposals to a victim in the Lake Tahoe area,” according to the statement. “Baron proposed that the victim invest in a venture to sell Irish seafood to restaurants in Las Vegas. Rather than using the victim’s money for the intended purpose, Baron diverted funds to his own personal use and to pay other investors from previous deals. Baron forged a series of invoices and other documents to persuade the victim that the investment was legitimate. Baron also convinced the victim to invest in other false ventures, including investments in motion pictures and luxury automobiles. The victim did not know that Baron had a prior felony conviction for fraud.”