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SoCal woman gets 14 years for swindling investors

February 19, 2010 12:00:00 AM PST
A San Diego County woman who swindled 40 people out of $1.8 million has been sentenced to 14 years in prison. Janet Reiswig pleaded guilty to grand theft and was sentenced on Thursday.

Prosecutors say Reiswig and her husband placed newspaper ads to market certificates of deposit at higher rates. She then went to her victims' homes and made small talk as the largely working-class retirees signed papers to purchase the bogus certificates.

The couple did not have a license to make such sales and never bought any certificates. Instead they used the money to rent a home in Escondido and spent $800,000 in less than a year.

Prosecutors in San Diego and Orange counties were able to freeze the Reiswigs' assets and their victims will get about 55 percent of their money back.