The United States Attorney’s Office for the Middle District
of Pennsylvania announced that James Hocker, age 49, was sentenced on April 26,
2019, by United States District Court Judge Matthew W. Brann to 204 months’
imprisonment and three years of supervised release for committing securities
fraud. Judge Brann also ordered Hocker
to pay restitution to the victims in the amount of $1,495,782.62.
According to U.S. Attorney David J. Freed, Hocker, an
insurance agent, defrauded approximately thirty-eight investors of more than
$1.4 million from 2009 to 2018. Hocker
told victims that he would invest their money in funds with guaranteed returns
of up to thirty percent, but instead used the money for personal expenses. Many
of the victims were elderly and liquidated their retirement accounts and
insurance products in order to invest with Hocker.
The matter was investigated by the United States Securities
and Exchange Commission’s Enforcement Division and the Federal Bureau of
Investigation. Assistant United States Attorney Alisan V. Martin prosecuted the
case.
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