Former Texas dental practice owner sentenced for wire fraud

The former owner of dental practices in Austin, Texas, has been sentenced to 36 months in federal prison for wire fraud.

Clinton Finch Herzog allegedly defrauded investors in his dental practices out of hundreds of thousands of dollars between 2016 and 2018, according to a Jan. 29 news release from the Justice Department. 

Investors made capital investments in limited liability companies created by Mr. Herzog to manage the practices, but Mr. Herzog violated the limited liability company agreements by commingling the investments with his own personal funds.

Mr. Herzog used the funds of investors for his personal expenses, including meals, airline tickets, travel, liquor and jewelry. 

As part of the sentencing, Mr. Herzog must pay $2,182,760 in restitution, the release said.

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