A Montgomery County money manager, who pleaded guilty to a $19 million fraud, on Wednesday was sentenced to just shy of five years in federal prison, with credit for 14 months already served.
U.S. District Court Judge Legrome D. Davis in Philadelphia imposed a relatively light sentence because Tim Burns helped federal prosecutors secure a conviction in a California fraud case and because the judge was convinced that Burns has potential to lead a law-abiding life after prison.
Also, Burns is helping with other investigations, his attorney, Thomas A. Bergstrom, told the judge.
Despite being sentenced to less than half the federal guideline based on the amount of his fraud, Burns was crushed when he heard the judge's decision.
Burns, 36, who grew up in the Phoenixville area and graduated from St. Joseph's University, was hoping to get off with jail time already served.
"My gauge is that you need a greater depth of understanding," Davis told Burns during the hearing.
The judge also ordered Burns to pay $11 million in restitution and to serve five years of supervised release.