Former Malibu resident Peter Jerald Frommer was sentenced to 108 months, or nine years, in federal prison today by United States District Judge George H. Wu for his involvement in a $9 million Ponzi scheme.
Frommer, 35, pleaded guilty to charges of wire fraud, money laundering and three counts of failing to file federal income tax returns in November.
The Santa Barbara resident, who obtained millions through a fake investment scheme, was ordered to pay $8.1 million in restitution.
Frommer will begin serving his sentence May 31.