4-Year Sentence
Given for
Investment Fraud
COURTS: Former president
of First Pension in Irvine is also told to repay $74 million
to investors, some of whom call term too short.
by Hope Hamashige
from The Los Angeles Times,
Business, Part D Page 1, March 9, 1995
partial reprint; contact The Los Angeles Times for complete
text
EXCERPT:
"Valerie Jensen (former president
of First Pension Corp.) was sentenced Wednesday to four years
and three months in prison for her role in an investment scam
and ordered to repay $74 million to thousands of elderly clients
who were cheated out of their pension money."
OTHER POINTS:
 Investors lost more
than $136 million.
Maximum sentence was
10 years in federal prison. Leniency was given due to Jensen's
cooperation in the case and in recovering at least some of the
money.
Delayed beginning of
prison term so Jensen can continue to help in the investigation/recovery
of money.
Company founder William
Cooper previously sentenced to 10 years in federal prison; company
CFO Robert Lindley previously sentenced to 9-year term.
For complete text, contact
The Los Angeles Times.
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