RICHMOND, Va. — A former FBI agent and his wife are due in federal court in Richmond for sentencing in an investment fraud case.
John and Sara Graves of Fredericksburg were convicted of conspiracy, mail fraud and four counts of wire fraud in April. John Graves also was convicted of investment adviser fraud and lying to the FBI. They face sentencing Tuesday.
John Graves founded an investment company in 2003. Prosecutors said he and his wife targeted elderly investors and used their funds to buy real estate and pay business and personal expenses.
Federal sentencing guidelines call for up to 17½ years for John Graves and up to nine years for Sara Graves. Defense attorneys want no more than five years for the former FBI agent and home confinement for his wife.