What statute(s) are they charged under? (You can find this information by looking up their records at the Clerk of Court website). There are different types of fraud crimes and theft crimes, so I really can't comment on what type of sentence they may be facing without knowing the specific statute involved.
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That could easily get a possible sentence as a first degree felony up to 30 years prison. But the main thing to think about is how the money will be repaid. We call that restitution, and it will be a joint and several liability to the people who did the fraud. He needs an aggressive criminal defense attorney in your area to represent him.
The maximum sentence for a first degree felony grand theft is 30 years in prison. The minimum senates without a state attorney for judicial departure is approximately 21 months prison. As a starting point, the parties are probably looking at settings somewhere in between me.
As always, the individual and particular facts of the case will control.