Southeast Louisiana Investment Adviser Ordered To Prison

Jail Cell Prison Getty RF

An investment adviser in southeast Louisiana is headed to prison for more than a decade.

The U.S. Attorney's Office in Baton Rouge says 71-year-old Ralph Savoie of Mandeville pleaded guilty to wire fraud in March and has now been sentenced to 14 years in prison. He's also been ordered to pay $1.1 million in restitution to the elderly victims he ripped off.

Savoie was accused of defrauding clients over a three-year period beginning in 2013.

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