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BR businessman spent investors' money on tuition & car payments; must surrender to prison next month

10 months 3 weeks 2 days ago Friday, July 21 2023 Jul 21, 2023 July 21, 2023 12:24 PM July 21, 2023 in News
Source: WBRZ
Photo: 225 Magazine

BATON ROUGE - A Baton Rouge telehealth CEO convicted of spending up to $290,000 in investors' money on personal expenses was ordered Thursday to surrender to the federal government so he can serve out his prison sentence. 

Federal court records say Vishal Vasanji, founder of Relief Telemed, must turn himself over the U.S. Attorney General's Office by Aug. 24, 2023. He admitted to the crimes in a plea agreement earlier this year. 

Vasanji reportedly used the money he pocketed on "car payments; cleaning services; insurance premiums; grocery delivery services; and private school tuition." He also spent the funds to make purchases at retailers and restaurants, as well as withdrawing cash from the company's account and writing checks payable to himself. 

According to The Advocate, Vasanji's sentence entails 28 months in prison and a $50,000 fine. 

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