Rudy Giuliani associate gets sentenced to prison for ‘Fraud Guarantee’ scheme
President Donald Trump's personal lawyer Rudy Giuliani speaks at the Save America Rally on the Ellipse on Jan. 6, 2021, near the White House in Washington, D.C.. - Tom Williams/Getty Images/Abaca Press/TNS

A federal judge sentenced a Florida businessman to a year and one day in prison for "lying to federal election authorities and for duping investors in a fraud-insurance company" in a case that stemmed from a sweeping investigation involving several associates of Rudy Giuliani, the Wall Street Journal reports.

"David Correia pleaded guilty last fall to one count of making false statements to the Federal Election Commission about the source of a $325,000 donation to a pro-Trump super PAC and one count of conspiracy to commit wire fraud in connection with the fraud-insurance company, Fraud Guarantee," the WSJ report stated.

Correia admitted to working with Giuliani associate Lev Parnas to convince investors through "exaggerations and misstatements about the company's worth" to put more than $2.3 million into the company which never got off the ground.

According to prosecutors, Parnas and Correia used much of the funds to pay for personal expenses.

Read the full report over at The Wall Street Journal.