Columbia, South Carolina---- United States Attorney W. WALTER WILKINS stated today that WADE TIMOTHY GARNER, age 48, of Seneca, South Carolina, was sentenced to 27 months in prison for wire fraud. Additionally, Garner was ordered to pay restitution in the amount of $309,063.74.  The sentence was imposed by Fourth Circuit Court of Appeals Judge William B. Traxler, sitting by designation on the United States District Court.

        Mr. Wilkins stated that since early 2006, Garner has taken various amounts of money from individuals in the Upstate of South Carolina, claiming he had access to certain no risk, high return investments.  In 2007, several of Garner’s investors who had failed to receive profits on their investments, began demanding the return of their principle.  Garner was unable to return the money and left the area. 

        Thereafter, the FBI located Garner living in a motel in Greenville.  An FBI employee, posing as a rich investor, phoned Garner and inquired about investment opportunities.  Garner stated that he had excellent, no risk investments, had always made money for his clients, and had never lost any of his investors’ money. With these blatant misrepresentations tape recorded, the FBI moved forward and arrested him.     

        Mr. Wilkins commended FBI Special Agent Paul Jacobs for his excellent handling of this case, stating that Jacobs’ knowledge of investment fraud and the investigation of same is extraordinary.  The case was prosecuted by Assistant United states Attorney David Stephens of the Greenville office.