St. Louis Man Sentenced on Fraud Charges

ST. LOUIS, MO—King Bethel Harris, of St. Louis, was sentenced to 21 months in prison for soliciting $200,000 from two residents of Minnesota for the purpose of investing in an “Advice Note” involving international financial institutions. In addition to his prison sentence, he was ordered to pay restitution of $200,000 to the victims.

Harris promised the investors the Advice Notes were a safe investment, that he was experienced in such matters, and that they would get their money back because it would remain in his escrow account until placed. In all, Harris admitted with his plea in February to soliciting $200,000 in investments in this way. Despite his promises, Harris spent the investors’ money on personal expenses instead of investing the funds.

Harris pled guilty in February to one felony count of wire fraud. He appeared today for sentencing before the Honorable Jean C. Hamilton.

This case was Investigated by the Postal Inspection Service and Federal Bureau of Investigation. Assistant United States Attorney Tom Albus handled the case for the U.S. Attorney’s Office.