Man gets prison for defrauding investors out of $874K

HARTFORD, Conn. (AP) — A Connecticut man will spend almost four years in prison for operating an investment scheme that defrauded people of more than $874,000.

The U.S. Attorney’s office says 54-year-old Anthony Sciarra, of Wethersfield, was sentenced Wednesday in Hartford federal court. He pleaded guilty to wire fraud in February.

Court documents say Sciarra operated AGS Financial, through which he offered insurance, securities and other financial products. He operated the firm from 2001 until May 2012. Around that time, the state revoked his insurance license.

Related Content: Weathersfield man pleads guilty to operating investment scheme

Between 2007 and 2015, Sciarra presented himself as an insurance agent and financial advisor when he was not. Through AGS Financial and later another entity, he solicited investments from at least 12 investors with promises of high returns.

Authorities say Sciarra used the funds for personal use.