Rockwall Man Gets 80 Months After Investment Fraud Conviction

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NORTH TEXAS (CBSDFW.COM) - It was in October of last year when Mark Lee Cleaton was convicted on four counts of wire fraud stemming from an investment fraud scheme he ran, he now knows his punishment.

A district judge ordered that Cleaton serve 80 months in federal prison and pay more than $34o,000 in restitution, for the scheme he ran out of North American Capital, LLC, in Dallas.

Prosecutors said that in less than a year's time Cleaton solicited some $350,000 in investments from people with the promise to invest the cash in short-term, high-yield real estate projects.

The 34-year-old spent investors money on personal expenses, paid off  credit card bills, luxury cars and trips to Hawaii.

By the time investors went to Cleaton's office in Bryan Tower he'd been locked for not paying rent for two months.

The judge order that Cleaton surrender to the Bureau of Prisons on April 6.

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