Luis Fernandez, 37, of Folsom, was sentenced to four years and nine months in federal prison for running a Ponzi scheme that lost $2.1 million and touched 50 victims.
The sentencing was Tuesday in federal court in Sacramento before Senior U.S. District Judge Lawrence Karlton.
Between the fall of 2004 and spring of 2009, Fernandez collected $7.4 million from investors by promising them a 3 percent monthly return on their money through his Fernandez Financial Inc. in Folsom, according to court documents.
