29 Jan '13, 8pm

No more fancy cars, Rolex for investor who bilked Minnesotans of $7.5 million - Minneapolis Star Tribune: No mor...

A 38-year-old man who rewarded himself with fancy cars and a five-figure Rolex watch was sentenced Tuesday to more than four years in prison for defrauding a Minneapolis radiologist and the son of his colleague out of $7.5 million. Evan M. Flaxman, of Silverthorne, Colo., was sentenced in federal court in Minneapolis to four years and four months in prison after pleading guilty six months ago to mail fraud. In his plea agreement, Flaxman admitted that he fleeced Dr. William J. Ford III, a diagnostic radiologist, and Eric Barron, the son of St. Louis Park orthopedic surgeon Stephen E. Barron, and spent their money on Ferraris, a Porsche race car, a Rolex and payment of more than $100,000 in personal income taxes. Prosecutors underscored that Flaxman also used the money for "significant expenses related to his multi-million-dollar home." His fraud was not borne of need, but ...

Full article: http://www.startribune.com/local/188892641.html

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