A Missouri developer has been sentenced to a year in prison for a scam that cost six families nearly $400,000.
The U.S. Attorney's Office in St. Louis says 33-year-old Morgan Bullock of Camdenton was sentenced Friday. He also must pay $136,000 in restitution.
Bullock took deposits for six new homes in the St. Louis suburb of Kirkwood, but the city denied his development application. Federal prosecutors say that after repeated delays Bullock either refused to pay back deposits or made repeated false promises of repayment.
The scheme was uncovered after a lender foreclosed on the land where the housing development was planned. Federal prosecutors say the victims included families with young children and retirees who used much of their life savings to put down deposits.