PELHAM MAN SENTENCED TO 60 MONTHS FOR DEFRAUDING INVESTORS OUT OF $430,000.00

BIRMINGHAM, AL - On Monday, June 25, 2007, BRUCE WAYNE MOORE was sentenced in a Birmingham Federal District Court to a term of 60 months imprisonment after being convicted of defrauding eight individuals out of $430,000.00. MOORE was also ordered to pay full restitution to his victims in the amount of $430,000.00.

"The defendant's guilty plea validates the hard work of the committed individuals who investigated the complex scheme," stated United States Attorney Alice H. Martin. "I am pleased that the court imposed a stern prison sentence in addition to requiring that Mr. Moore be ordered to pay restitution to the victims of his fraudulent conduct," added Martin.

Internal Revenue Service Special Agent in Charge Rebecca A. Sparkman reacted to MOORE'S sentencing by stating that, "If it sounds too good to be true, it probably is. People should diligently check out claims of high rates of return before investing. They should not blindly follow the advice of one person, and should always get a second opinion."

Prior to sentencing, MOORE, 59, of Pelham, pled guilty on January 11, 2007, to charges of wire fraud and money laundering. Those charges arose from conduct that showed MOORE carried out a scheme to defraud individuals by claiming that he could secure funding for large commercial loans in addition to offering what he claimed to be high yield investment opportunities. In fact, MOORE misappropriated investor's money for his own benefit, including purchasing luxury cars and repaying some investors who he believed might alert authorities to his fraudulent conduct. The illegal investment schemes occurred between the June 2002 and March 2004.

Special agents of the Federal Bureau of Investigation and the Internal Revenue Service investigated the case. Assistant United States Attorney William C. Athanas prosecuted the case.