A former Utah dentist was sentenced Aug. 19 to 60 days in jail after investigators discovered he had fraudulently received $62,500 in a business scheme, according to ABC4 News.
Einar Lignell, DDS, was charged with four counts of second-degree felony securities fraud. Investigators claimed he sold $62,500 in investment opportunities to people. Dr. Lingell was fraudulently seeking investors for a residential redevelopment project.
Investigators said Dr. Lingell told investors he had secured $300,000 for the project and only needed $60,000 to close on the property. Investors were told they would quadruple their investment within two years.
However, documents show there was never any land for sale for the project.
Dr. Lingell has paid back more than $20,000 of the $62,500 fraudulently obtained investments, ABC4 News reports.
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Einar Lignell, DDS, was charged with four counts of second-degree felony securities fraud. Investigators claimed he sold $62,500 in investment opportunities to people. Dr. Lingell was fraudulently seeking investors for a residential redevelopment project.
Investigators said Dr. Lingell told investors he had secured $300,000 for the project and only needed $60,000 to close on the property. Investors were told they would quadruple their investment within two years.
However, documents show there was never any land for sale for the project.
Dr. Lingell has paid back more than $20,000 of the $62,500 fraudulently obtained investments, ABC4 News reports.
More articles on dental:
Dr. Kristin Wade completes Academy of General Dentistry fellowship — 3 insights
Connecticut dentist crashes two cars in same day — 5 insights
California dental practice opening 3rd location