A former Wichita investment advisor has been sentenced to five-plus years in prison and ordered to pay more than $2.2 million in restitution, the U.S. Attorney’s Office said Friday.
In an e-mailed news release, the office said that Eric Burns, 44, pleaded guilty to five counts of wire fraud and admitted that he arranged electronic transactions as part of a plan to defraud clients. His sentence totals 63 months.
The transactions, in 2010 and 2011, included amounts from $12,000 to $150,000 from Boston to Wichita and from Boston to New York, the office said.
On Nov. 8, 2011, the Office of the Kansas Securities Commissioner suspended Burns’ registration as an investment advisor after getting a complaint that he misappropriated funds, the office said.