Centennial attorney and investment manager Thomas B. Evans was sentenced Tuesday to 14 years in federal prison on charges of defrauding investors out of at least $12 million.
Evans, 48, received the sentence after to one count of conspiracy to commit mail and wire fraud.
Federal prosecutors said Evans, the owner and president of Evans Real Estate Group LLC, solicited investments in a plan to buy, refurbish and then resell apartment complexes in Austin, Dallas and San Antonio. But Evans misappropriated investment funds, falsified financial statements and submitted false documents to banks and other lending institutions, according to the U.S. Department of Justice.
Evans was ordered to serve five years of probation after his release and pay $12.3 million in restitution.
