DeSimone was convicted in March of money laundering and seven counts of mail fraud. Prosecutors say he used his ill-gotten gains to fund a lavish lifestyle of fancy cars, valuable art works and ancient Japanese swords.

The trial focused on an invention called the Drink Stik, a device that connects beverage containers to respirators and gas masks worn by soldiers in contaminated areas.

Prosecutors argued that DeSimone lied about access to deep-pocketed investors and promised the inventor he would sell the Drink Stik in exchange for a one-third stake in its patent. They say DeSimone then convinced investors to buy shares in his Drink Stik stake by falsely claiming that major international corporations, including Fidelity Investments and Raytheon Corp., had offered to buy it for millions of dollars.

More at source: ABC