A Dallas federal judge has sentenced a Canton woman to nine years in prison for her role in a multimillion-dollar securities fraud case and on a failure-to-appear charge after she skipped an earlier sentencing hearing.
On Dec. 3, U.S. District Judge Barbara Lynn sentenced Cynthia Setser, 51, to five years in prison for her role in a multimillion-dollar pyramid scheme spearheaded by her husband, Gregory Setser.
Ms. Setser must also pay more than $61 million in restitution and serve four years for failing to appear at her January 2007 sentencing.
The scheme, aimed largely at Christian investors including televangelist Benny Hinn, bilked hundreds of people from Texas and California out of more than $170 million before the FBI shut down the Setsers' sham import company, IPIC Investments, in 2003. Mr. Setser was sentenced to 40 years in prison.
Ms. Setser was arrested in Florida in December 2007, 11 months after she skipped her original sentencing hearing.
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