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USVI financial adviser sentenced in fraud case

July 11, 2013

CHARLOTTE AMALIE, U.S. Virgin Islands (AP) — A judge U.S. Virgin Islands has sentenced a bogus investment adviser to several years in prison and ordered her to pay millions to those she defrauded.

Authorities say Janice Rey had set up a shell company that defrauded investors out of millions. She told clients they would double their money in less than a year if they invested money with her sham business.

A federal jury convicted Rey of wire fraud, money laundering and tax evasion in April.

The U.S. Department of Justice said Rey was ordered to pay over $3 million in restitution. She was also ordered to pay $550,681 to the islands’ internal revenue bureau. She was sentenced Thursday.

Co-conspirator Devon McLean received a similar sentence.