COLUMBIA, S.C. (AP) -- A South Carolina man has been sentenced to two-and-a-half years in prison and ordered to repay almost $4 million to his victims after being sentenced for wire fraud.

U.S. Attorney Bill Nettles said Monday that 63-year-old James Pearce Jr. of Greenville was sentenced in Columbia by United States District Judge G. Ross Anderson Jr.

Pearce pleaded guilty last June after three days of trial in which witnesses testified Pearce convinced them to loan him money saying he had a successful currency trading business.

But Nettles said the evidence showed that Pearce instead had lost all the money invested with him for seven years. Nettles said Pearce admitted his guilt and expressed remorse.

Read or Share this story: