RI man sentenced to 16 years in invention scam
{{#rendered}} {{/rendered}}A former Rhode Island art dealer has been sentenced to 16 years in prison for duping investors out of more than $6 million.
Prosecutors say the 58-year-old Rocco DeSimone convinced the investors to pour money into inventions he claimed major corporations had offered to buy for millions of dollars.
Prosecutors say DeSimone used his ill-gotten gains to fund a lavish lifestyle. He was convicted in March of money laundering and seven counts of mail fraud. Judge William Smith imposed the sentence Thursday in Providence.
{{#rendered}} {{/rendered}}DeSimone also has been ordered to pay more than $6 million in restitution.
Prosecutors say DeSimone deserved a stiff sentence because he is a career con man who stole from his victims and saddled them with "broken dreams, empty bank accounts, and untold distress."