MUNCIE, Ind. - 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 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."
Monrovia wins Class 2A State Championship
The Monrovia football team beat Whiting 33-6 Saturday to win the Class 2A State Championship.
WATCH: Shoppers brawl at Florence Mall
Call it "Black Eye" Friday -- a pair of shoppers got into a brawl at the Florence Mall on Thanksgiving.
Fire displaces family of 8 on city's south side
An electrical fire caused an estimated $40,000 in damage to a house on the city's south side Saturday morning.
Person shot on city's west side
One person was shot on the city's west side Saturday morning.
Rain chances continue today
ACTION DAY – A damp Saturday for many of us means you once again need to take along the umbrella and other rain gear.