Former Aiken financial adviser sentenced to 4 years in prison

A former Aiken financial adviser was sentenced to four years in prison Tuesday and ordered to pay more than $3.2 million in restitution to 14 victims, according to the U.S. Attorney’s Office in Columbia.

Arthur Vann, 65, pleaded guilty in November to participating in conspiracy to defraud investors.

Evidence presented then showed that Vann had an interest in offshore bank accounts and companies, primarily located in the Caribbean, and directed clients to invest in a fund focused on the Cayman Islands, according to a news release.

When money was transferred, Vann diverted some of it into accounts he controlled, and when confronted by investors, he sent them fake statements, according to the news release.

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