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MILWAUKEE — A New Lisbon man accused of swindling nearly two dozen investors in five states has been sentenced to three years and five months in prison.
Russell Badder owns Oshkosh Aircraft Parts and solicited investments of more than $500,000 from people in Wisconsin, Missouri, Illinois, Indiana and Virginia. Badder said he planned to use the money to buy crashed planes that he would strip and sell for parts.
Prosecutors say Badder spent all the money on other business and personal expenses.
During sentencing last week in federal court, a 72-year-old man testified his entire retirement fund was squandered by Badder and that he now lives on Social Security.
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