AUBURN, AL (WTVM) - An Auburn man who pleaded guilty to wire and securities fraud now knows how long his sentence will be.
Sandler has now been sentenced to 63 months in prison without parole, followed by three years of supervised release.
He has also been ordered to pay $1,903,000 in restitution.
From 2015 to 2016, Sandler founded a company called The Roundhouse LLC, which he promoted as a “business incubator," providing companies with services in exchange for equity in their companies. However, he knowingly sold shares in Roundhouse that were not registered on a national securities exchange, overselling stock in his company to investors by approximately one hundred percent.
“Mr. Sandler violated the trust of his investors with lies and deception,” said U.S. Attorney Louis Franklin. “They trusted him with their hard earned money, and he used it as his personal piggybank. My office will continue to work with our law enforcement partners to protect the community from these types of schemes.”
This case was investigated by the FBI and the Alabama Securities Commission.