FORMER OKLA. AGENTS GET TIME:

A former Shawnee, Okla., insurance agent and his son were recently sentenced to lengthy stays in federal prison for allegedly swindling investors out of more than $8 million. Merl William Hickman Sr. and Merl William Hickman Jr., both pled guilty in June to federal charges stemming from a fraudulent investment scheme reportedly run through the Shawnee insurance firm, The Hickman Agency Inc. According to the Associated Press, U.S. District Judge Tim Leonard sentenced Hickman Sr. to 97 months in federal prison and Hickman Jr., to a five-year term for his role in the scheme. However, both are expected to spend additional time behind bars. As a result of an expected plea agreement on state charges, Hickman Sr., who was charged in Pottawatomie County with 444 counts of obtaining money by false pretenses, may end up with a 160-year sentence. Hickman Jr. is expected to plead guilty to a single felony conspiracy count in exchange for a 10-year sentence. The judge ordered the two to pay more than $8 million in restitution, but it is unlikely that the 160 investors in the alleged Ponzi scheme set up by the Hickmans will see much of a return on their money. Investors, some of whom lost their life savings, were promised returns up to 20 percent, but authorities say no money was ever invested.