Robert Cirillo of Chino Hills was sentenced to six and a half years in federal prison Sept. 6 after pleading guilty to defrauding “low-income Hispanics” and persuading them to invest in construction loans he never intended to pay back.
Cirillo will also have to pay $3.9 million in restitution. He pleaded guilty to securities fraud, false tax return and conspiracy to commit wire fraud June 28.
“Defendant orchestrated and ran a huge investment fraud scheme where he stole more than $3 million from over 100 victims by tricking them into investing in his bogus construction loan scheme, using both lies and fake documents. What he failed to tell the victims was that