Woman sentenced for role in investor scheme

CLEARWATER — Victoria Snow of Clearwater and Brian Newton of Port Orange have been sentenced for their role in defrauding more than 60 investors.

Snow was sentenced to four years and nine months in prison. Newton was sentenced to 15 years and eight months. Together, the two were also ordered to pay more than $7.2 million in restitution, according to a release from the Florida Office of Financial Regulation.

Snow and Newton took money from investors based on misrepresentations that the funds would help expand operations of a firm named Prestige Funding Group, authorities alleged. Investors received promissory notes for their money and were to receive quarterly interest between 10% and 20% and a 3% to 6% maturity bonus. Newton, however, diverted more than $3 million into his personal account, OFR officials contend.

Snow and Newton were initially indicted in April 2014 on charges of conspiracy, mail fraud and wire fraud. Snow, according to a previous statement, worked in one of the firms Newton allegedly controlled.