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39-year-old Shawn Christopher Gorrell, formerly of Tulsa and now of Montana, has been sentenced to 64 months in prison on each of the 3 counts of wire fraud a jury found Gorrell committed and 60 months in prison on the 3 tax evasion counts. All prison sentences are to run concurrently with one another.

In January, a jury determined that between 2007 and 2012, Gorrell fraudulently induced victims to entrust him with over $2 million for investing on their behalf in various ventures. Gorrell used the funds to pay personal expenses, to gamble and to day-trade in his personal trading account. In addition to providing the investors with reassuring statements of venture performance, Gorrell used their funds to make Ponzi-type payments back to them, creating the illusion that the ventures were operating according to his representations.

The court ordered Gorrell to pay $2,006,908 in restitution to victims of his wire fraud scheme and a special monetary assessment totaling $600. After release from prison, Gorrell must serve 3 years under the supervision of the United States Probation Office. As a condition of his supervised release, the court ordered Gorrell pay $509,256 in restitution to the Internal Revenue Service for the taxes he owes. The court has also entered a criminal money forfeiture judgment against Gorrell for $2,006,908.