Rep. Alan Grayson (D-FL) lost $18 million in a scheme that cheated him and about 120 other investors out of more than $35 million, the AP reports.
“The Virginia man who ran the scheme, William Dean Chapman, was sentenced Friday in federal court to 12 years in prison. Prosecutors say Chapman used the money to fund a lavish lifestyle including a Lamborghini, a Ferrari and a $3 million home.”
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