LOS ANGELES, Calif. – Former Oregon Congressman, Wes Cooley, will serve time in federal prison for failing to report money he got from a 10 million dollar investment fraud scheme.
80-year-old Cooley is convicted of receiving nearly $500,000 from that scheme. A Los Angeles federal prosecutor said Cooley will serve his sentence of one year and one day, beginning March 11th of next year.
He is also ordered to pay $3.5 million in restitution to 400 investing victims and $138,000 to the IRS. Cooley served as a Republican representative for Oregon’s 2nd Congressional District from 1995-1997.
Previously, Cooley denied involvement in the fraud, saying suffered three strokes and could not remember the past 15 years of his life.