LOUISVILLE, Ky. (AP) - A Louisville man has been sentenced to 21 months in prison for posing as a real estate investor and embezzling funds in Kentucky and Tennessee.
A release from the U.S. Attorney's office in Louisville says Eric Claxton must also pay $520,000 in restitution.
Claxton pleaded guilty to three counts of wire fraud in October. Prosecutors say he admitted to defrauding the owners of Rangeland Manor, San Souchi and Capri Arms apartment complexes in Louisville in 2012. Claxton entered into a purchase agreement with the owners by using false documents. Prosecutors say while he managed the buildings, he fraudulently depleted the bank accounts.
The release from the U.S. Attorney says in 2014, Claxton committed an identical scheme in Kingsport, Tennessee, by misrepresenting his finances to the owners of Tuscany Villas.