MOORESVILLE, N.C.,None — A Mooresville man pleaded guilty to bilking investors out of millions of dollars and will spend at least nine years in prison.
Shelby Dean Martin, 73, received two sentences of more than four years and Judge Christopher Collier ordered him to serve one sentence at the expiration of the other, meaning Martin will serve a minimum of nine years and eight months in prison.
Martin ran two businesses, Dean Martin Enterprises and DW Ventures, and solicited investments in his businesses and others.
The North Carolina Secretary of State's office said Martin was never registered to sell such investments and none of the investments were registered.
Martin pleaded guilty to 19 counts of securities fraud and another 63 were dropped. The 19 counts were consolidated into two counts for which Martin received the active sentences of a minimum of 58 months and a maximum of 79 months.
WSOC
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