CHEYENNE, Wyo. (AP) - A federal judge has sentenced a Green River securities agent who bilked his clients out of more than $1 million to serve 46 months in federal prison.
U.S. District Judge Clarence Brimmer on Friday said Leo Timothy Buggy of Green River "just went nuts," when he started spending his clients' money.
Buggy pleaded guilty this summer to federal charges of mail fraud, wire fraud and money laundering.
Buggy had been a registered securities agent with AXA Equitable, a New York securities firm. He encouraged some clients to transfer holdings to his personal bank accounts.
Assistant U.S. Attorney Lisa Leschuck told Brimmer that AXA has reimbursed the clients for their losses. The judge ordered Buggy to reimburse the company more than $1.2 million.