EAST ST. LOUIS (KMOX) – An East St. Louis minister has been sentenced to more than a year in prison for promising a 15% return to people who would invest in his gold mine in Canada.
32-year-old Jeremiah Jacob, of Columbia, Illinois, was sentenced Friday to 14 months in federal prison.
He also has to pay back nearly a quarter-million dollars in restitution.
Federal prosecutors say Jacob solicited people to invest in a gold mine in the Yukon area. In return, he promised them 15% annual returns.
Prosecutors say Jacob took a $200,000 investment from a woman even after the deal had fallen through because he couldn’t raise more money.
Invigorate Ministries lists Jacob as its founder. It conducts church services in East Alton and State Park.