Phoenixville man sentenced for land fraud scheme

September 24, 2009 4:52:56 AM PDT
A Pennsylvania man has been sentenced to more than eight years in federal prison for operating a real estate investment fraud scheme that victimized members of a New Jersey church congregation.

Under terms of the 97-month sentence imposed Wednesday, Terence Mayfield of Phoenixville also will be required to pay restitution to the victims. The amount has not yet been determined.

Prosecutors say the 47-year-old Mayfield persuaded members of The Church of Grace and Peace in Toms River to give him money that he was to invest in income-generating real estate.

But he admitted that he actually made only one such investment and used investors' funds to repay earlier investors and for personal expenses.