An Orem man who admitted to soliciting millions of dollars of investments in his insolvent real estate company, then using the money for payments to other investors and for his own living expenses, was sentenced Wednesday to seven years in prison.
Chad Roger Deucher also must pay more than $16.5 million to the victims he cheated in the Ponzi scheme — which began about March 2010 and continued to about February 2016 — under the sentence imposed by U.S. District Judge David Nuffer.
Deucher, 44, pleaded guilty in April to one count of securities fraud. As part of a plea deal, 18 counts of wire fraud were dismissed.