George Elliott, a Belton-based salesman for a fraudulent scheme involving the sale and lease of credit card terminals, was sentenced to 12 years in state prison on one count of aggregated money laundering.
Judge Joe Carroll of the 27th State District Court in Bell County sentenced Elliott on March 5.
According to the indictment, Elliott was involved in 34 transactions totaling $1 million. Elliott was a salesman for Edward Digges, a former Maryland lawyer who ran the Millennium Terminal Investment Program.
Digges and his sales agents offered securities that were purportedly based on the revenue generated by point-of-sale terminals that merchants use to process credit and debit transactions. Digges raised at least $10 million from about 130 Texas investors, the majority of whom were elderly.
Digges was sentenced last month to 99 years in prison for his crime.