Former Bishop Sentenced For Investment Fraud
A former Mormon bishop from Stratford has been sentenced to nearly four years in prison for his conviction in an investment fraud scheme whose victims included members of his congregation.
Federal prosecutors say 59-year-old Julius Blackwelder defrauded investors of nearly half a million dollars, using the money in part for a 7,000 square foot home and to pay other personal expenses. The U.S. Attorney’s office says Blackwelder promised investors he would invest their money in safe, long-term commodities futures with a specific rate of return and issued false paperwork.
He pleaded guilty earlier this year. Federal Judge Ellen Bree Burns sentenced him to 46 months in prison and three years supervised release.