SOUTHWEST MISSOURI — A former Southwest Missouri business man is sentenced to prison for fraud schemes totaling more than $30 million.
51-year-old Russell Grundy — formerly of Aurora, Missouri — will spend 8 years in federal prison without parole.
The court also ordered Grundy to pay nearly $15 million in restitution to his victims.
Earlier this year, he plead guilty to two counts of wire fraud, one count of making a false statement on a loan application, and one count of money laundering.
Grundy owned several companies that focused on advanced technology, including several in Joplin, like Innovative Objects, Pilr Technology, and Audio Input.
Court documents say he had multiple schemes to defraud financial institutions, the Miami Nations Tribe, and former clients like Land O’lakes and Nutra Blend.