Pelion man sentenced in multi million dollar fraud case
PELION, S.C. (WIS) - A Pelion man received a sentence to federal prison in a multi million dollar fraud case.
Samuel Sturkie Jackson, Jr., 51, was sentenced to four years after investigators said he defrauded investors of over $3 million.
Evidence presented in court showed Jackson operated an Automated Transaction Machine (ATM) business called Little Giant ATM. Jackson requested investments and promised a monthly rate of return. The investment purpose was to load cash into the machines and collect profits from transaction fees.
Investigators said from 2015 through 2019 he converted the money from the business and investor deposits for his own use. The money was spent on farm equipment, cars and trips to Las Vegas. In total, Jackson is accused of defrauding over $3.4 million from the business and investors.
In addition to the 48 month sentence, Jackson will be required to have three years of court supervision after release. He is also sentenced to pay back the $3.4 million in restitution. He is not eligible for parole.
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