James Elton Warr, who operated American Note Warehouse, has been sentenced to 15 years in prison after being convicted of bilking investors out of more than $1 million from 2010 to 2011.
His brochure read: “Make Money in Real Estate Without Real Estate.” His business card touted “Contractually Guaranteed 13% Interest”
A Travis County, Texas jury on Jan. 26 found Warr, 69, guilty of first-degree felony charges of theft, securities fraud, money laundering and misapplication of fiduciary property. He could have been sentenced to as much as 99 years behind bars.
Contributed by David Fenoglio