A Montana man has been sentenced to over eight years in prison and ordered to pay nearly $6.5 million in restitution for taking millions of dollars in down payments on steel buildings he never completed.
U.S. District Judge Donald Molloy sentenced 41-year-old Jonathan Lee Oliver of Missoula on Tuesday.
Oliver pleaded guilty in February to wire fraud, money laundering and structuring, or intentionally making bank transactions in amounts less than the $10,000 level at which a federal report must be filed.
Charging documents said Oliver solicited pre-payments of nearly $7.9 million mostly from residents of Montana, North Dakota and South Dakota between October 2010 and December 2011 and only completed one building.
Prosecutors alleged Oliver used some of the money to buy a house, three new vehicles, a motorhome, an engagement ring and other items.
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