Scammer sentenced to prison in $8M fraud

NAPLES — A federal judge sentenced Dorian Garcia, 31, of Naples, to more than six years in prison after he scammed $8 million from investors and used part of the money for lavish personal expenses.

Garcia only invested a small portion of the funds he received from investors for six years starting in February 2009, according to a statement from the U.S. Attorney's office, citing a plea agreement.

When customers gave Garcia money to invest, he sent them false trading statements reflecting he had earned trading profits. Instead, Garcia used a greater portion of investors' funds to repay other investors and also spent the money for personal and business expenses, including artwork, rent, luxury car payments, domestic help including a personal chef, jewelry and dinner parties.