A Raleigh man has been sentenced to more than 26 years in federal prison and ordered to pay more than $2 million in restitution for his part in an investment fraud scheme.
David Christopher Mayhew, 43, was sentenced in federal court last week, nearly seven months after a jury convicted him of conspiracy, wire fraud, mail fraud and money laundering.
Prosecutors say that between January 2009 and May 2012, Mayhew was involved in a scheme that stole more than $2 million from investors while promising them returns of as much as 100 percent within 30 days. They say Mayhew had a partner, Ronald McCullough of Raleigh, who has been indicted but has not been located.
Thomas Noyes, the Inspector in Charge of the U.S. Postal Inspection Service’s Charlotte office, said the two men used the religious beliefs of their victims to gain their trust and steal their money.
“When making investment decisions, investors should always consider that if it sounds too good to be true, it probably is,” Noyes said.