Man sentenced for investment scam

By 6abc
ALLENTOWN, Pa. (AP) - March 15, 2008 Fifty-four-year-old Craig Reinhard of Upper Macungie has been sentenced to more than 12 years in federal prison for selling worthless certificates of deposit to more than 50 people, many of them senior citizens who lost their life savings.

Prosecutors said Reinhard netted $3.3 million in the Ponzi scheme from 1994 to 2006. Reinhard pleaded guilty in December to mail fraud and related counts.

A woman prosecutors said was Reinhard's partner in the scheme pleaded guilty in February to similar charges. Debra Bzik will be sentenced in July.

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Information from: The Morning Call, http://www.mcall.com

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