ALAMOGORDO, N.M. (AP) – A state District Court judge in Alamogordo has imposed a three-year prison term on an Albuquerque businessman who pleaded guilty in an investment fraud case involving an 88-year-old victim.
Judge James W. Counts sentenced Jeffrey B. Bland to 18 years in prison but suspended 15 years of the sentence on the condition that Bland pay restitution of $75,000.
The state Regulation and Licensing Department said the victim was defrauded of $229,000, and department Superintendent Mike Unthank said Bland intentionally targeted vulnerable elder victims.
Bland was licensed to sell insurance products in New Mexico.