Last Defendent in Investment Scam Gets 10 Years

Monday, Jan 7, 2013  |  Updated 8:12 AM CDT
View Comments (
)
|
Email
|
Print
Last Defendent in Investment Scam Gets 10 Years

advertisement

A federal judge in Dallas has ordered 10 years in prison for the final defendant in a $13 million investment scheme mainly targeting the elderly.

Adley Husni Abdulwahab must serve the Texas sentence consecutively to a 60-year Virginia term he's now serving over a $100 million life insurance scheme. He must also make restitution in the Texas case.

Abdulwahab last year pleaded guilty in Dallas to securities fraud during 2006 and 2007. He's the third defendant over failed investments in the W Financial Group.

Michael Wallens Sr. of Nantucket, Mass., and his son Michael Wallens Jr. of Plano earlier pleaded guilty to securities fraud. The father was sentenced to 4½ years in prison, while the son received a five-year term.

Abdulwahab was sentenced Friday.

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
Get NBCDFW on Mobile!
Get NBCDFW's free news and weather... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out