Monday, September 01, 2014

Follow us:
Follow us on Facebook Follow us on Twitter Subscribe to this news feed 

News

Buffalo

Investment scam lands co-founder of Spot Coffee behind bars

  • Text size: + -


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.

10.11.12.244 ClientIP: 54.197.95.127, 184.26.143.166 UserAgent: CCBot/2.0 (http://commoncrawl.org/faq/) Profile: TWCSAMLSP