A New Jersey man is on his way to federal prison after pleading guilty to a wire fraud and money laundering. 59 year old William Kelly was sentenced on Thursday to 5 years in federal prison for a real estate scam involving dozens of clients and investors in the Lancaster area. Kelly plead guilty on January 22, 2013.
Prosecutors say through businesses such as Homelynx, Bantry Property Solutions, Multi County Properties and For Sale by Seller Plus, which he owned and operated. Kelly promised clients and investors quick returns or results on their funds. After the victims turned over their money, Kelly would take their money, spend it for personal use, string the victims along with various excuses, and provide the clients with checks that bounced. At least 40 clients lost more than $718,700 in the scheme.
In addition to the prison term, Kelly was also ordered to pay back the $718,700 and serve three years parole. The FBI and the Elizabethtown Borough Police investigated the case.