Farmington businessman guilty of ripping off the elderly - KMOV.com

Farmington businessman guilty of ripping off the elderly

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Tom Terry. Credit: KMOV Tom Terry. Credit: KMOV
FARMINGTON (KMOV.com) -

Collectively, 42 victims have lost more than $1 million, all due to a man named Tom Terry

All of these victims invested in Terry's Farmington investment corporation. They thought their money was safe and Terry advertised a healthy rate of return.
 
However, Terry used their money to start personal business ventures.

Investors said that wasn't part of the deal, and when it was time to get paid back, the money was gone. 

Years after losing their money, the courts finally charged Terry with multiple felonies.  However, many of the victims never saw justice as the statute of limitations ran out. 

On Monday, Terry pleaded guilty to two counts of financial exploitation of an elderly or disabled person.

The plea means he's ordered to pay back two of his victims, but only $500 a month. 

He could have received a life sentence, instead he received five years of probation. 

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