Welton admitted being behind a scheme in which he persuaded six investors to buy stock in a defunct company he once owned that state licensing officials had dissolved for prior violations.<\/p>\n
Prosecutor Diane Michalak said Welton used the would-be investors’ money for his own personal expenses without investing a dime.<\/p>\n
“These are people he knew in some way, shape or form who trusted him,” Michalak said. “He was dating one of the victims, who had custody of her son. She was a single parent when he bilked her of $42,000. She indicated she was financially devastated and lost her home, car and savings as a result.”<\/p>\n
Welton faced a possible term of probation or up to seven years in prison. He is eligible for parole after serving half the prison term. <\/p>\n
DuPage Circuit Judge Daniel Guerin also ordered Welton begin to pay $89,000 in restitution upon his release.<\/p>\n
Welton has prior convictions for deceptive practices in 1993 and 1995, the later of which involved a $30,000 scam.<\/p>\n<\/p>\n
Read the original article on DailyHerald.com<\/a>.<\/p>\n Distributed via Chicago Press Release Services<\/a><\/p>\n An Oak Brook man was sentenced today to 4.5 years in prison for an investment scam that bilked those who trusted him out of $89,000. Dion H. Welton, 47, received the punishment after pleading guilty Jan. 21 to theft and forgery charges. Welton admitted being behind a scheme in which he persuaded six investors to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-350638","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/350638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=350638"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/350638\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=350638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=350638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=350638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/img><\/a>
\n<\/img><\/a><\/p>\n
<\/img><\/a>
<\/img><\/a>
<\/img><\/a>\n<\/div>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"