LEXINGTON, Ky. (Aug. 6, 2012) — A Lexington businessman who operated a computer software company was sentenced to 57 months in prison for scheming investors out of their money.
U.S. District Judge Karen Caldwell sentenced 47-year-old Douglas Patrick Healy on Thursday for wire fraud. Judge Caldwell calculated a $1.4 million loss for the nearly 30 victims in the case. Healey was immediately remanded into custody. A hearing to determine the restitution amount for victims was set for Oct. 11.
Court records show that between 2008 and 2010, Healy made numerous false statements to lure money from investors in Lexington and other regional areas.
Healy owned a company known as Digital Storage Solutions (DSS) and marketed computer software that allowed people to store their medical history information on a wallet-size card.
Among other misrepresentations, Healy made false statements about his level of education, his business experience and the amount of cards his company sold.
The U.S. Attorney’s Office and the Kentucky Department of Financial Institutions jointly announced the sentence.
The investigation was conducted by the Kentucky Department of Financial Institutions. Assistant U.S. Attorney Ken Taylor represented the U.S. Attorney’s Office in this case.
Under federal law, Healy must serve at least 85 percent of his prison sentence.