CLARKSVILLE, Ind. — A man from Clarksville is headed to federal prison for cheating investors out of about million dollars.
Court documents say Anthony Leonard spent six years, from 2013 to 2019, convincing investors to put money into his companies that he claimed were financial powerhouses. The only problem is that was a lie.
Leonard convinced investors to not only buy into his companies, which focused on developing educational software products, but continue to provide a constant flow of cash into these companies once they signed on. He was able to convince the investors that his companies were as successful as he claimed by providing inflated sales figures and false bank statements.
The investors lost about 1.4-million dollars, according to court documents.
Investigators say most of the money was used by Leonard and his wife to buy things for themselves, such as property, expensive dinners, and trips.
Leonard was charged with wire fraud and money laundering, and he will spend over three years in federal prison, plus three years of probation once he’s out of prison.