Glencoe man gets 10 years in federal fraud case


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Posted Online: Jan. 17, 2013, 5:19 pm
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CHICAGO (AP) A suburban Chicago man has been sentenced to 10 years in federal prison for defrauding investors in a now-defunct sleep disorder business.

Federal prosecutors say 52-year-old Kenneth Dachman of Glencoe was sentenced Thursday. He pleaded guilty in October to wire fraud, admitting he solicited money from investors for the business and instead spent it on personal expenses. Dachman also must pay millions in restitution and forfeiture and serve three years of supervised release after serving his sentence.

Federal prosecutors say Dachman spent much of the money on a Lake Forest mansion, a tattoo parlor and family vacations. Investors believed their money would be used to purchase sleep-related equipment, rent office space and pay physicians.
















 



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  Today is Monday, Oct. 20, the 293rd day of 2014. There are 72 days left in the year.

1864 -- 150 years ago: The store of Devoe and Crampton was entered and robbed of about $500 worth of gold pens and pocket cutlery last night.
1889 -- 125 years ago: Michael Malloy was named president of the Tri-City Stone Cutters Union.
1914 -- 100 years ago: Dewitte C. Poole, former Moline newspaperman serving as vice consul general for the United States government in Paris, declared in a letter to friends that the once gay Paris is a city of sadness and desolation.
1939 -- 75 years ago: Plans for the construction of an $80,000 wholesale bakery at 2011 4th Ave. were announced by Harry and Nick Coin, of Rock Island. It is to be known as the Banquet Bakery.
1964 -- 50 years ago: An application has been filed for a state permit to organize a savings and loan association in Moline, it was announced. The applicants are Ben Butterworth, A.B. Lundahl, C. Richard Evans, John Harris, George Crampton and William Getz, all of Moline, Charles Roberts, Rock Island, and Charles Johnson, of Hampton.
1989 -- 25 years ago: Indian summer is quickly disappearing as temperatures slide into the 40s and 50s this week. Last week, highs were in the 80s.


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