Tuesday, June 7, 2005 | 9:09 a.m.
An Idaho Falls, Idaho, man was sentenced to 37 months in federal prison and ordered to pay restitution of nearly $1.3 million after pleading guilty to fraud in a day trading scheme, a U.S. attorney announced on Monday.
Robert O. McClung was sentenced in Pocatello, Idaho, for using two businesses incorporated in Nevada to solicit $1.7 million in investments with the promise of strong returns and minimal risk through day trading, a Justice Department statement said.
Credited in investigating the case were the IRS Criminal Investigations Division, the FBI, the Idaho Department of Finance and the Idaho Attorney General.
Also, a Henderson resident, Tory Mathew Stone, owner of All World Cycles Inc., has been charged with violating the Clean Air Act for allegedly selling custom-built motorcycles that did not have required air pollution equipment, the Justice Department said on Monday.
All World Cycles operates in Anaheim, Calif., and Henderson, court documents said.
A 13-count indictment released by the Justice Department also alleges that Stone advised a customer to lie to state and federal investigators. A Justice Department statement said Stone pleaded not guilty Monday morning in federal court in Santa Ana, Calif.
The Justice Department credited the case to the assistance of the Enviromental Protection Agency's Criminal Investigation Division, the California Air Resources Board and U.S. Immigration and Customers Enforcement.
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