A former Chicago man who pleaded guilty to swindling nearly $8 million from more than 50 victims who thought they were buying specially discounted stocks in Google, Facebook and other companies has been sentenced to 12 years in prison.
The U.S. attorney's office says 41-year-old Randy Cho of Seattle was also ordered to pay $7.9 million in restitution to investors and nearly $1.5 million to the Internal Revenue Service. U.S. District Judge James Zagel on Friday also ordered Cho taken into custody immediately.
Cho was arrested in late 2010 and pleaded guilty last August to wire fraud and tax fraud.
Prosecutors say Cho ran the scheme from locations in Chicago, Seattle, Boston and Newton, Mass.
Thursday, May 16 2013 9:49 PM EDT2013-05-17 01:49:53 GMT
Mayor Emanuel will celebrate two years in office by unveiling "Elevate Chicago" on Thursday, a series of construction projects to improve Navy Pier and McCormick Place.
Mayor Emanuel will celebrate two years in office by unveiling "Elevate Chicago" on Thursday, a series of construction projects to improve Navy Pier and McCormick Place.
Saturday, May 18 2013 11:26 PM EDT2013-05-19 03:26:02 GMT
Seven juveniles were arrested Saturday night after police responded to groups of teens running through traffic around North Michigan Avenue on the Gold Coast.
Seven juveniles were arrested Saturday night after police responded to groups of teens running through traffic around North Michigan Avenue on the Gold Coast.
Saturday, May 18 2013 10:12 PM EDT2013-05-19 02:12:56 GMT
Three men were killed and at least 10 other people were hurt -- including a 12-year-old boy left in critical condition -- in shootings around the city since Friday night.
Three men were killed and at least 10 other people were hurt -- including a 12-year-old boy left in critical condition -- in shootings around the city since Friday night.
Friday, May 17 2013 10:37 PM EDT2013-05-18 02:37:06 GMT
On Friday, the current Chicago Teacher's Union President Karen Lewis announced that she has been re-elected and says she won with 80 percent of the vote.
On Friday, the current Chicago Teacher's Union President Karen Lewis announced that she has been re-elected and says she won with 80 percent of the vote.
