John F. Langford of Amarillo was sentenced to 15 years in state prison after pleading guilty in August to 15 counts of securities fraud and related charges.
Langford was indicted in 2009 for selling fraudulent and unregistered products such as "private annuities"and promissory notes.
Langford, a former insurance agent, stole nearly $7 million from dozens of investors. Many of his victims are elderly.
Langford was sentenced on Sept. 12 in the 181st state District Court in Potter County to seven 15-year terms for the fraudulent sale of securities and eight 10-year terms for selling unregistered securities and selling without being registered. The sentences will run concurrently.