A San Juan Capistrano man convicted last year of bilking 124 elderly investors of more than $11 million in a Ponzi scheme was sentenced to 90 years and eight months in prison.
Jeffrey Gordon Butler, 51, was convicted in June of 694 felony counts of stealing from elderly investors through the illegal sale of unqualified securities and filing false tax returns.
The case is one of the largest elder-abuse cases ever prosecuted in the history of the Orange County District Attorney's Office.
The final sentence – handed down over a period of days by Superior Court Judge James A. Stotler – likely means that Butler will not live long enough to become eligible for parole.
Stotler later sentenced Butler's wife, Peggy Warmath Butler, 49, to one year in jail, to be served during seven years probation on her convictions of aiding another in the preparation of a false tax return and three counts of filing false tax returns. Stotler warned her that if she could be sent to prison later if she violates any conditions of probation.
The judge sentenced Jeffrey Butler to consecutive terms in prison on dozens of counts after he heard emotional victim-impact statements last month from victims who said they lost most of their retirement savings to a man they had trusted.
"I've never known a man who can look you straight in the eye and lie," victim Larry Schiel told the judge. "He didn't show any compassion for his victims or what they've been through."
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Man Gets 90 Years for Bilking Elderly Investors of $11 Million
Jeffrey Gordon Butler Victims Give Impact Statements