DALLAS (CN) – The host of a radio talk show on real-estate investing was sentenced Friday to 10 years in federal prison and ordered to pay $4.6 million in restitution for bank fraud and aggravated identity theft.
Clifford Wayne Robertson, 43, of Murphy, pleaded guilty in January. He was sentenced to 8 eight years for bank fraud and 2 years for aggravated identity theft. The sentences are to run consecutively, the U.S. Attorney’s Office said.
Robertson hosted an investment talk show on KFXR-AM 1190, and also conducted real-estate investment seminars in person. He admitted that he used someone else’s identity to submit a fraudulent personal financial statement to a lending institution to obtain money by false pretenses.
Robertson was indicted and arrested in September 2009 in Dallas. He admitted he caused investors to lose between $2.5 million and $7 million. He has been in jail since he pleaded guilty on Jan. 13.