A Green Lake man will spend nine months in jail after allegedly scamming a Wisconsin woman out of $78,000.
Gregory J. Garro, 56, was found guilty after a three-day trial in Milwaukee County.
Last week Thursday, Judge Richard Sankovitz sentenced Garro to three years probation — including nine months in jail — for Garro’s convictions on three counts of securities fraud.
Sankovitz imposed but stayed a four-year prison term (two years initial confinement, and two years extended supervision), and placed Garro on probation for three years.
Garro was ordered to seek full employment and pay restitution to the victim in the amount of $35,000, the amount the court found could realistically be repaid.
The court prohibited Garro from offering for sale any security, and Garro was ordered to provide a DNA sample.
The court granted permission for Garro to serve his jail sentence in a different county jail, if he is employed in another county and that jail will accept him.
Garro must report to the Milwaukee County House of Correction next week to begin his sentence.
Three felonies were filed in 2008 after Garro allegedly sold promissory notes to a Milwaukee County woman from November 2002 to February 2003.
According to the Wisconsin attorney general’s office:
“Garro was convicted of securities fraud for willfully omitting to tell the investor about material facts ... Garro told the investor that his construction business was profitable, when in reality it was experiencing serious financial difficulties, about which he did not tell the investor. The investor lost $78,000 in this securities fraud.”