Betchley sentenced

By Cole Mayer

Richard Betchley, the man convicted of scamming Serrano investors out of hundreds of thousands of dollars, was sentenced Friday to one year in county jail with three years of felony probation.

Betchley, who swindled investors using fraudulent businesses he owned and property he defaulted on, pleaded no contest to three felonies — one count of grand theft, one count of securities fraud and one count of tax evasion covering four years of both personal and corporate taxes — said Deputy District Attorney Jim Clinchard. He also admitted to an aggravated white collar crime of stealing $750,000 from investors in Sacramento.

Betchley agreed to pay $200,000 up-front, before sentencing, as restitution to victims, Clinchard said, and at the hearing he agreed to pay $50,000 to cover the investigative costs of the Franchise Tax Board.

Short URL: http://www.villagelife.com/?p=18035

This story falls on page ""
Posted by on Mar 5 2012.
Last Login:
Filed under Featured Stories, News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Comments are closed

Recently Commented

  • agrandar pene: I think that everything ssaid was actually very logical. However, think on this, suppose you added a...
  • Doug Lombardi: What is up with the increase salaries? The word is out that El Dorado Hills Fireman (on tax...
  • Elixabeth: I believe a little fact check is in order. Considering she is wearing a green cap and gown, I would make...
  • Susan: Thank you Julie Samrick & Village Life for spotlighting Wally in your paper. He is and always has been a...
  • Joel Miller: Doug thanks for the info. It’s hard to stay updated if the VL uses old news.