EAST ST. LOUIS, Ill. (AP) – A Metro-East minister has been sentenced to more than a year in prison for committing securities fraud in a deal involving a Canadian gold mine.
The Belleville News-Democrat (http://bit.ly/NISlxh ) reports that 32-year-old Jeremiah Jacob, of Columbia, was sentenced Friday to 14
months by a U.S. District Court judge in East St. Louis. He also has to pay more than $240,000 in restitution.
Federal prosecutors say he solicited people to invest in a gold mine in the Yukon area. In return, he promised investors they’d get 15-percent annual returns.
Prosecutors say Jacob took a $200,000 investment from a woman even after the deal had fallen through because of his failure to raise enough money.
Invigorate Ministries lists Jacob as its founder. It conducts services in East Alton and State Park.
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