St. Louis, MO (KSDK) -- A Missouri man was sentenced on fraud charges involving an energy generating machine, the U.S. Attorney's Office said Tuesday.
55-year-old David Grammer was sentenced to 78 months in prison after pleading guilty in April to two felony counts of mail fraud.
Court documents say Grammer and an associate started a venture to develop, manufacture and market an electronic device which would generate energy. They named the device the "Boydoplex".
Grammer's partner died in 2004. Between 2004 and 2011, Grammer raised funds for the device in person and through mail, claiming that the Boydoplex was on the verge of sale for amounts ranging from $300 million to $863 million.
More than 84 individuals and businesses invested over $3.3 million in Grammer's device.
The problem? The device never existed. It was fictitious.
$2,719,819 of the investments were traced to Grammer's bank accounts.
When investors questioned Grammer about the device and the delays of its launch, he claimed the laboratories where it was being developed and tested were destroyed by floods and natural disasters.
Along with his prison sentence, Grammer was ordered to pay a restitution of $2,719,189. Grammer also agreed to the forfeiture to the government all money and property derived from the illegal activity.