ATLANTA (AP) - Federal prosecutors say an Atlanta realtor and businesswoman has been sentenced to serve more than seven years in prison after defrauding clients out of more than $22 million over two years.
U.S. Attorney Byung J. "BJay" Pak said in a news release Monday that 58-year-old Emily Moerdermo Fu "took advantage of her reputation and clients' trust to defraud them." She pleaded guilty in July to mail fraud.
She was sentenced Friday to serve seven years and three months in prison. She was also ordered to pay more than $22 million in restitution.
Fu operated Capital Management in Suwanee, offering a variety of services to commercial real estate investors. Prosecutors say that instead of completing closings on properties, she had diverted the funds for her own use.