GRAND RAPIDS, Mich. (WOOD) — A former Plainfield Township supervisor was sentenced to probation Tuesday for a charge connected to a real estate deal from before he was in office.
Jay Spencer was sentenced to 5 years of probation and ordered to pay $36,000 in restitution.
In May, Spencer pleaded guilty to engaging in business of private banking, a felony with a maximum sentence of four years in prison. In exchange for his plea, charges of false pretenses with intent to defraud, embezzlement and larceny by conversion were dropped.
The case stems from a 2011 business arrangement where a retiree gave him $241,000 for a real estate deal. It was supposed to pay for the flipping of six houses, but Spencer was accused of taking the money and using it for personal expenses.
Spencer was previously ordered to pay $540,000 in damages to three investors.