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Buffalo Man Sentenced to Jail After Embezzlement
James Jones III stole thousands from family
BUFFALO, N.Y. (WBEN) - A Buffalo man was sentenced to nine months in jail after pleading guilty in June to grand larceny.
James Jones III, 31, was given $28,966 while working as an investment banker in 2015 which he was support to invest on behalf of his aunt and her husband. Despite several requests by them, Jones never gave an update on the investment.
The next month, a bank account was opened online in the name of the victim and a $28,966 was deposited into that account. Wire transfers moved the money in Jones' account, which he then spent on gambling and personal items. Jones has a criminal history including larceny and identity theft. He was sentenced to five years of probation in those crimes.
Jones is also ordered to pay back the $72,434.69 he embezzled from his clients, which he will need to repay after he is released.