4-Year Sentence
Given for
Investment Fraud
COURTS: Former president
of First Pension in Irvine is also told to repay $74 million
to investors, some of whom call term too short.
by Hope Hamashige
from The Los Angeles Times,
Business, Part D Page 1, March 9, 1995
partial reprint; contact The Los Angeles Times for complete
text
EXCERPT:
"Valerie Jensen (former president
of First Pension Corp.) was sentenced Wednesday to four years
and three months in prison for her role in an investment scam
and ordered to repay $74 million to thousands of elderly clients
who were cheated out of their pension money."
OTHER POINTS:
-- Investors lost more
than $136 million.
-- Maximum sentence was
10 years in federal prison. Leniency was given due to Jensen's
cooperation in the case and in recovering at least some of the
money.
-- Delayed beginning of
prison term so Jensen can continue to help in the investigation/recovery
of money.
-- Company founder William
Cooper previously sentenced to 10 years in federal prison; company
CFO Robert Lindley previously sentenced to 9-year term.
For complete text, contact
The Los Angeles Times.
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