Local News in Brief : Mail Fraud Sentence
A former salesman in a high-pressure telephone marketing scheme was ordered to serve two months in prison Monday in federal court in Los Angeles for helping bilk investors out of more than $2 million by persuading them to invest in precious metals.
U.S. District Judge Manuel Real imposed a 10-year term, but suspended all but 60 days, on Mark E. Rattet, 28, who had pleaded guilty to two counts of mail fraud. Rattet will serve the term on weekends, prosecutor Terree Bowers said.
Rattet was also ordered to pay $17,500 restitution to one of the victims in the scheme and submit to drug testing.
Working at Intech Investment Corp. in Newport Beach in 1986, Rattet was one of the salesmen who telephoned customers across the country and persuaded them to invest a total of $2 million in gold, silver, platinum and copper.
Employees allegedly assured clients that there was little or no risk that they would lose money and promised that they could make profits of up to 625%, Bowers said.
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