Portland man sentenced for committing wire fraud in decade-long scheme

PORTLAND, Ore. ( KOIN ) — A Portland man has been sentenced to federal prison as a result of defrauding people out of approximately $2 million over more than a decade.

The U.S. Attorney’s Office for the District of Oregon disclosed that 53-year-old William Bennington received a 51-month sentence on Tuesday. He also will serve three years of supervised release.

According to the Attorney’s Office, Bennington “knowingly and intentionally” swindled multiple victims from March 2012 to October 2022. Officials said the man told victims he was a “wealthy foreign exchange currency trader that had written a proprietary trading algorithm, which he alleged was the source of his wealth.”

USAO reported that Bennington claimed people would receive annual returns of up to 80%, and they could be repaid within six months. He additionally created a fake website that convinced victims they had earned significant returns, the office said.

Authorities alleged Bennington spent the money on “extravagant” vacations, a golf simulator and personal expenses including rent and vehicle leases.

He was indicted on five charges of wire fraud in October 2023. He pleaded guilty to just one count earlier this April.

The maximum sentence per count of wire fraud is 20 years in federal prison.

For the latest news, weather, sports, and streaming video, head to KOIN.com.