July 10, 2013
Boothbay Harbor man gets 8 years for investment fraud
A Boothbay Harbor man who pleaded guilty in February to a federal charge of wire fraud was sentenced Tuesday in a Connecticut court to over eight years in prison. He was also ordered to pay around $3 million in restitution to victims he duped into joining his investment scheme.
The Bangor Daily News reported Garrett “Denny” Denniston, 63, was sentenced to 97 months in prison followed by three years of supervised release.
Denniston was arrested in September 2012 at his Boothbay Harbor home. He was accused of cheating more than 50 people out of over $2.5 million through a company called ConsensusOne. Investigators found that Denniston used the money he bilked from his investors on personal expenses like ski trips and country club memberships.
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