SANTA ANA, California — An Orange County man whose investment schemes bilked doctors and others out of more than $2 million has been sentenced to federal prison.
Fifty-eight-year-old David Rose of Coto de Caza was sentenced Monday to nearly five years in prison and ordered to pay restitution. He pleaded guilty in July to wire and mail fraud.
Prosecutors say over a period of years, Rose got dozens of doctors, dentists and others to invest in Irvine companies that promised lucrative returns on investments in emerging medical technologies — such as a way to remove children's wisdom teeth without surgery.
Authorities say Rose actually spent the money for personal expenses, including $7,500 a month for rent, an $80,000 boat and shares in the Green Bay Packers.
He's been in custody since his 2013 arrest.