SEATTLE – A Washington state man who served three years in prison for an $800,000 fraud – only to steal $12.7 million in a different scam after his release – has now been sentenced to a much longer term of 15 years.

From shortly after his release from prison in 2010 until last year, 47-year-old Laurence Hong and his 42-year-old wife, Hyun Joo Hong, defrauded at least 55 clients who thought they were investment advisers. Both were sentenced Wednesday; Hyun Joo Hong received six years.

The couple lost some of the money trading, but they used some the rest on personal expenses that included a 9,000-square-foot mansion in Clyde Hill, east of Seattle; a 45-foot yacht; and on luxury vehicles including a Maserati and a Lamborghini.

Federal prosecutors said one church in California invested $1 million with the Hongs and lost about $300,000 on a single trade. Another couple allowed the Hongs to manage their $180,000 in retirement funds only to lose $100,000 within less than a year.

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