St. Louis Public Radio News
5:21 pm
Wed September 30, 2009

Investor sentenced for $10 million fraud

St. Louis – A St. Louis-area investor who stole more than $10 million of his client's money has been sentenced to six and a half years in prison.

Don C. Weir must also pay those clients more than $12 million in restitution. He pleaded guilty in February to a mail fraud charge for selling gold coins he had purchased for clients as investments without their permission. Weir used the money from those sales to pay for private school education and to make charitable donations.

The Postal Service in a statement said it will continue to look for other assets to use for restitution.