LOS ANGELES--A Riverside County preacher has been sentenced to federal prison for his role in an investment scheme.

The scam led more than 500 victims to lose over $28 million after being told they could make money in coal mines and gold transactions.

Robert Jennings, 59, of Perris was found guilty and sentenced to 12 years in prison by a federal judge in Los Angeles.

Two other men were also convicted.

Judge Percy Anderson described the defendants as “economic predators” and ordered them to pay $28 million in restitution. While the scheme collected more than $32 million, some of the money was returned to investors as part of the Ponzi scheme.

Story Date: November 22, 2008