Ex-USC professor gets six years for scam
A former USC real estate professor, who ran an investment scam luring students and others with bogus claims of large returns in commercial developments, was sentenced to six years in federal prison, authorities said Tuesday.
Barry Landreth, 38, a Fullerton resident, has been ordered to surrender to custody by July 30.
He pleaded guilty in March to using his influence as an adjunct professor to persuade several students and others to invest large sums of money in purported real estate projects in Chicago and Las Vegas with promised returns of 190% within 30 to 45 days. Instead of investing the money, however, he used it, among other things, to buy a Cadillac Escalade.
A hearing has been set for Aug. 20 to determine the amount of restitution Landreth owes.
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