The sentencing for a San Juan Capistrano man convicted of bilking 124 elderly investors of more than $11 million in a Ponzi scheme will continue Jan. 4 in Orange County Superior Court.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, according to court records. The case is considered one of the largest elder-abuse cases in the history of the Orange County District Attorney's Office.
His wife, Peggy Warmath Butler, 49, was convicted of one felony count of aiding another in the preparation of a false tax return and three counts of filing false tax returns. She is being sentenced simultaneously.
Sentencing started Friday, but it is taking multiple days partly because of the number of defrauded investors who made victim-impact statements.
Senior Deputy District Attorney William Overtoom said the case was about "fraud, deceit and lies."
"The part I think is most important is who he was targeting each and every time," he said.
Most of the victims, the majority of them over 70 and the eldest 100 from Fullerton, lost their life savings, Overtoom said. About 59 of them have passed away.
Overtoom asked the judge to impose some prison time for each victim who lost money.
Judge Stotler started imposing sentence on Jeffrey Butler on Tuesday afternoon, but the sentencing hearing is scheduled to continue Jan. 4 and may take several days.
"I'm asking the judge to make an order that the defendants repay each victim with interest from the day of the loss," Overtoom said. "That is the next argument to come."
Jeffrey Butler has been at Orange County Men's Jail since being arrested at his home in February 2006. He is being held in lieu of $10 million bail. Peggy Butler was released after posting $150,000 bail.
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Elderly Victims Confront Man Who Ran $11 Million Dollar Fraud
Good news - an indictment and imminent sentencing.
ReplyDeleteI think it's a wonderful thing that victims give impact statements. Not that the perps care, but it's cathardic for the vics.
ReplyDelete$11 million? How did it go on that long undetected?
ReplyDeleteDid he spend all the money or is there a chance of recovery for some of the victims?
ReplyDeletePlease continue to follow this story NASGA. It might end up as big as the Scott Rothstein story.
ReplyDeleteThe picture shows him with his head down as if he has a conscience.
ReplyDeleteMake no mistake, he doesn't.
I hope he has a nice, long stay in the big house.
ReplyDelete694 felony counts????? great job
ReplyDeleteSenior Deputy District Attorney William
throw the book the bench all you have judge no mercy this offenders head is down cause he got caught (he is thinking where did i screw up?) now he looks like what he is a long time crook i hope he goes to his prison cage where he will have a lot of time to think about what he did who he did it to and was it worth it? greed love of money easy money he kept stealing with assistance from vulnerable people under the nose of the court thank God in this case there consequences for Jeffrey Gordon Butler bye bye......
I wonder how many of those 124 elderly investers complained before someone actually took action.
ReplyDeleteI'm glad they stopped this guy.
So many victims testifying that it's delaying things. That's good. I hope Jeffrey Gordon Butler sits there and wonders what his mother thinks of him and the shame he's brought upon his family.
ReplyDeleteMy mother was one of his victims.
ReplyDeleteShe trusted Jeffrey Butler. To me he is one of the biggest con artists I have heard about. May my mother rest in peace knowing that he is locked away and will not be scamming another person. To Jeffrey - I hope that you are having he worst time of your life and that your parents, children or relatives have similar things happen to them. I nomally am not an eye for an eye person, however, the amount of money he stole from my mother was the money that my father and mother worked hard for and it was substantial.
If anyone out there has parents, relatives, friends that have money, please please please ask questions about their investments. My only regret is not taking a bigger part in my mother's investments when she asked for advice.