Posted: Jun 15, 2012 2:11 PM by MTN News
MISSOULA- A Hamilton man who was found guilty on several charges, including investment fraud and money laundering, has been given six years in prison and must payback nearly $2.5 million in restitution.
Dan Oaheyoh Two Feathers was sentenced in federal court on Friday for his part in the scheme that ran from 2007 until 2008. He pleaded guilty to the charges back in March and is one of three men who were charged by a federal grand jury with running the complicated "Ponzi" scheme in 2008. Federal prosecutors have also charged Shawn Swor of Missoula and Terrance Paulin.
Government investigators say Swor was a "hard money lender" who met Paulin, and then Two Feathers, as he was exploring ways to make "bridge loans" by selling securities to create investment opportunities.
Prosecutors say Two Feathers claimed to know several ways to generate cash flow through selling securities in Europe and the trio started DTF Consulting Group, based in Missoula.
During his appearance in court Wednesday, Two Feathers admitted the group had "devised an investment scheme" to "convince investors to give up their money".
He said the DTF would tell investors they would get "100%" of their $50,000 investment plus additional profits that would "continue for a year." Two Feathers told Judge Donald Molloy back in March that the group had "enticed investors" to send them a total of $800,000.
But the scheme didn't end there. Prosecutors say Two Feathers also worked angles on the side that netted him an additional $1.3-million, using connections and accounts in Bermuda and Switzerland.
Two Feathers accepted a government plea deal and admitted guilt to four counts of conspiracy, investment fraud, receipt of stolen property and money laundering.
This isn't the first time Two Feathers has been in trouble with the law. Prosecutors say back in
1999 Two Feathers, then known as Dan Latham, was convicted in federal court in New York to 41 months and was ordered to pay $5,162,558 in restitution. Latham, who later legally changed his name to Dan Oaheyoh Two Feathers, and his associates used two sham Manhattan companies to convince victims that an overseas lender would finance their loans.