AmeriFirst Owner Gets 16 Years For Investment Scam

Law360, Los Angeles (July 20, 2012, 10:34 PM EDT) -- A Texas federal judge on Friday sentence the former owner of defunct securities company AmeriFirst Funding Corp. to 16 years in prison and ordered him to pay more than $23.2 million in restitution after he was found guilty of cheating hundreds of investors.

The sentence from U.S. District Judge Barbara M.G. Lynn comes seven months after a Texas jury convicted Dennis Woods Bowden on five counts of mail fraud and four counts of securities fraud.

Bowden, as owner of AmeriFirst Funding and AmeriFirst Acceptance Corp., enticed...
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