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Man Who Defrauded Hundreds Sentenced to 20 Years
PEORIA, Ill. (AP) -- A federal court judge in Peoria has handed down a 20-year prison sentence to William Huber, a former Decatur resident who defrauded friends and investors out of $15 million in a Ponzi investment scam.

In passing sentence Friday, U.S. District Court Judge also ordered Huber to pay restitution of $23 million.

The 61-year-old Huber, who now lives in La Jolla, Calif., pleaded guilty Aug. 10 to mail fraud, money laundering and other charges.

The (Decatur) Herald & Review reports that Huber had stolen the money from more than 300 investors over a period of 10 years.

Before sentencing, federal prosecutors said Huber could have faced as long as 50 years in prison and a $1 million fine.

(Copyright 2010 by The Associated Press. All Rights Reserved.)
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