MADISONVILLE, Ky. (WEHT) — A former investment manager from Madisonville has been sentenced for ripping off his clients, taking nearly half a million dollars.

Jerry Simpson pleaded guilty to three counts of wire fraud.

Prosecutors say Simpson used money that clients had paid to purchase annuities and instead put the money in his own account.

He is also accused of taking money from another client’s account and putting it into his account.

Simpson was sentenced to 27 months in prison and will be forced to pay back the $488,000 he stole.

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(This story was originally published on June 15, 2020)