Nevada Attorney General Adam Paul Laxalt announced that Lawrence Ronald Valentine, 65, of Las Vegas, was sentenced after pleading guilty to one count of theft, a category “B” felony.
The fraud was committed between July and October 2010.
Valentine promised to invest an elderly victim’s money on his behalf. As a result, the victim transferred $103,000 into Valentine’s personal bank account. Ultimately, the defendant failed to honor the investment agreement, instead spending the victim’s money on personal expenses.
Eighth Judicial District Court Judge Michael Villani sentenced Valentine to 42-120 months in prison, and ordered him to pay $103,000 in restitution.