A former Guam resident who admitted to doctoring financial documents, giving false account statements to investors, and diverting investor funds for his personal luxuries will spend four years in federal prison.

William Ichioka was sentenced in the Northern District Court of California on Jan. 10. 

Defense this week requested Ichioka serve time at the prison camp in Montgomery, Alabama so that he can participate in the Residential Drug Abuse Program.

As KUAM reported, the FBI, IRS, and securities and exchange commission’s investigated his company, Ichioka Ventures.

The feds uncovered that Ichioka “Convinced victims to invest millions of dollars into his phony venture by claiming he was making legitimate profits when, in fact, he was reporting fake results and creating bogus documents.”

Investigators said, “Ichioka was able to secure millions from investors by telling them lie after lie.”

He is scheduled to self-surrender on Apr. 9.