Court sentences investment fraudster to 10 years

AMMAN — The State Security Court on Tuesday sentenced a defendant to 10-and-a-half years in prison for fraud.

The defendant — who was also ordered to pay a fine of JD2,100 — set up a fake investment company and defrauded victims by claiming large returns on investments in international stock markets.

 After collecting large amounts of money, he closed the company and disappeared.

Police later tracked the man down and discovered that his brokerage firm was fraudulent.

In addition to jail time and a fine, the defendant was also ordered to pay back the JD1.38 million he acquired through fraud.