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Former CEO of United Management Inc. sentenced to 5 years in investment fraud plan

Tuesday, January 5, 2010 | 9:50 a.m. CST

JEFFERSON CITY — A 74-year-old Lake Ozark man has been sentenced to five years in federal prison for his part in a $3 million investment fraud conspiracy.

During sentencing Monday, Craig F. Swoboda also was ordered to pay $2.4 million in restitution. Swoboda was the chief executive officer of United Management Inc. in Columbia.

Prosecutors say Swoboda and two co-defendants told investors that it was developing and marketing a vending-machine related invention. However, financial and technical problems caused prevented production and marketing of the product.

The Jefferson City News-Tribune reports that the co-defendants, 78-year-old William Colwell McNeely, of Millersburg, and 63-year-old Gail M. Wilkerson, of Denver, have pleaded guilty for their roles in the conspiracy.

 


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