Palmer: Faunus Michael Doney Sentenced for Wire Fraud

Palmer: Faunus Michael Doney Sentenced for Wire Fraud

Palmer Man, Faunus Michael Doney Sentenced to 24 months for Wire Fraud

Anchorage, AL (STL.News) U.S. Attorney Bryan Schroder announced that a Palmer man was sentenced to serve 24 months in prison for Wire Fraud, in violation of 18 U.S.C. § 1343.

Faunus Michael Doney, fka Christopher Michael Wold, 37, of Palmer, was sentenced by United States District Court Judge Joshua M. Kindred to serve 24 months in prison, followed by 3 years of supervised release.  He was also ordered to pay $377, 946.14 in restitution to the victims of his fraudulent scheme.  Doney pleaded guilty to Wire Fraud on September 22, 2020.

According to a Felony Information filed in August of 2020, Doney devised and participated in a scheme that defrauded three victims beginning in August 2018 and continuing until at least June 2019.  Additional court documents reveal that Doney, a licensed insurance broker in Alaska, worked for a life insurance and annuity company based in Iowa.  Doney was responsible for marketing life insurance and annuities to new and existing clients in Alaska, many of whom were elderly and purchased those products to secure income in retirement or for estate planning.  Doney travelled throughout Alaska and hosted seminars designed to encourage elderly Alaskans to invest in his products.

Continue reading Palmer: Faunus Michael Doney Sentenced for Wire Fraud at STL.News.