Former Owner Of Sub Shop Chain Gets Prison Time For Fraud
UTICA, N.Y. (AP) — The former owner of a chain of sub shops in northern New York has been sentenced to 12 years in prison for swindling investors out of millions of dollars.
Christopher Swartz of Watertown was sentenced by U.S. District Judge David Hurd in Utica on Wednesday.
The 46-year-old Swartz owned Watertown-based Jreck Subs from 2005 to 2015. He admitted to defrauding lenders and investors in his franchises with false representations.
Prosecutors say he defrauded 81 people in the U.S. and 70 in the United Kingdom. Hurd ordered him to repay victims $21 million. His lawyer said Swartz is destitute.
Swartz's lawyer asked for a sentence of no more than three years in prison. Prosecutors asked for 19 to 24 years, the maximum under federal guidelines.