A Scottsdale man convicted of leading an $18 million international investment fraud that prosecutors say affected 225 victims has been sentenced to spend decades in prison.
U.S. District Judge Steven P. Logan sentenced 66-year-old James Jeffrey Hinkeldey on Monday to 30 years and five months in prison on his convictions earlier this year of conspiracy, wire fraud, mail fraud, money laundering and aggravated identity theft.
Prosecutor Elizabeth Strange said many of the victims who lost their life savings were close to retirement and that Hinkeldey's lengthy prison sentence "is well-deserved."
The U.S. Attorney's Office says Hinkeldey and others solicited millions of dollars from victims for purported investment in various projects and companies, including land development in Mexico, recycling companies in Las Vegas and Chicago, and distressed real estate in Phoenix.
