MUNCIE, Ind. (AP) — A man convicted of bilking Ball State
University out of $8 million in a fraudulent investment scheme has been
sentenced to four years in a prison.
Thirty-eight-year-old Seth
Beoku Betts was sentenced Thursday in U.S. District Court in New York
City. He was arrested in June 2013 in North Carolina on a wire fraud
charge stemming from a scheme prosecutors say Betts used to
misappropriate more than $8 million from Ball State.
The Star Press reports (http://tspne.ws/1oAbsNu ) Betts persuaded a Ball
State investments director to invest millions
in the mortgage market, but instead spent the money on luxury cars, a
house in Florida and other personal indulgences.
Ball State
President Jo Ann Gora says the Muncie school isn’t "the first university
to have been victimized by unscrupulous firms."