Minneapolis (KROC AM News) - A Lakeville man who ripped off several Minnesota seniors in a precious metals scam has been sentenced to more than 7 years in prison.

United States Attorney Erica H. MacDonald says 46-year-old David Rougier pleaded guilty in July and was sentenced Monday.

According to the defendant’s guilty plea and documents filed in court, between November 2010 and June 2017, more than a dozen individuals paid Rougier approximately $835,000 based upon his promises that he was using their money to buy gold and silver and, in some cases, that their investments were protected through guaranteed buyback contracts. He assured the victims that precious metals would be a safe investment and that the value would increase every year. Records show he ended up spending most of the money on “shopping trips, entertainment, travel, strip clubs and other personal expenses.”

"The defendant callously preyed on several victims who were at or nearing retirement age – a population that not only lives on a tight budget, but is also trusting of those who claim to help them live out their golden years with security. David Rougier abused that trust and we are satisfied that the sentence ensures that he will not only pay for his crimes, but will not be able to harm again," said FBI Special Agent in Charge Jill Sanborn.

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