NORTH IDAHO -- A man who authorities say used his connections as a real estate agent and church pianist in northern Idaho to dupe investors out of $2.2 million has been sentenced to three years in federal prison.
The U.S. Attorney's Office says 59-year-old Dale Edward Lowell was also ordered to pay more than $1.7 million in restitution during a hearing Wednesday. Lowell pleaded guilty to wire fraud last August.
Federal prosecutors allege he established "Dale's Investment Club" in 2005 and used both his personal and professional ties in Bonner County to start raising money from investors while advertising himself as a savvy options trader.
Prosecutors say Lowell collected $2.2 million that he ultimately lost in the market, used for personal expenses or to pay off investors to keep the scheme going.
