Former Navy SEAL sentenced for swindling other SEALs

Former SEAL apologizes before being sentenced to prison in grand theft case

A former Navy SEAL was sentenced Wednesday to prison after pleading guilty to swindling 11 SEALs and others of more than $1.1 million.

San Diego County Superior Court Judge J. Frederick Maguire sentenced Jason Mullaney to six years and eight months in prison. Mullaney, 43, had pleaded guilty to grand theft and related charges.

"You tarnished the good SEAL name," Maguire said.

The charges involve Mullaney's former company, Trident Financial Holding Acquisition.

Prosecutors said Mullaney promised investors returns of 24% from real estate and loan deals, but instead used the money for a lavish lifestyle, including gambling trips to Las Vegas.

Mullaney apologized for his actions and promised to repay the investors.

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