Monday, December 29, 2014

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Investment scam lands co-founder of Spot Coffee behind bars

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BUFFALO, N.Y. -- The co-founder of the Spot Coffee chain will spend almost two years behind bars for his role in an investment scam.

49-year-old Michael J. Morin was sentenced to 18 months in federal prison Monday. He pleaded guilty to a charge of felony investment fraud in October of last year.

Morin admitted he deceived investors by withholding information that Spot Coffee owed more than half a million dollars in payroll taxes.

Morin was also ordered to pay a little over $715,000 in restitution. His attorney said about 25 investors will receive restitution funds. ClientIP:, UserAgent: CCBot/2.0 ( Profile: TWCSAMLSP