SALT LAKE CITY -- A Salt Lake City woman accused of defrauding investors by puffing up the profile of her struggling investment firm has been ordered to pay more than $11 million in restitution.
Authorities say 39-year-old Emilee Peterson Buckley was also sentenced last week to serve five years in federal prison after she pleaded guilty to three counts of wire fraud.
Prosecutors say Buckley's company, Calypso Financial, was making little or no money and had debts of about half a million dollars.
But they say she told investors in 2007 Calypso had a net worth of more than $60 million and was making money off its Utah properties with valuable water rights, a precious metals mine, and foreign trading platforms in Hong Kong and Europe.
She was charged in an indictment in 2010.