American extradited from Malta admits fraud

An American who was arrested in Malta and extradited has been jailed for five years after pleading guilty to fraud and identity theft.

James Sadler, 66 of Hilton Head Island, South Carolina, was jailed for five years after appearing before a US federal court yesterday.

US Attorney Bill Nettles said Sadler also was ordered to pay $123,800.

Evidence presented to the court showed that in 2006, Sadler claimed to be an expert financial adviser and convinced a woman in Hilton Head to take out a $100,000 second mortgage on her house for him to invest in the stock market.

At Sadler’s direction, the victim wired $100,000 from her bank in Hilton Head to a brokerage firm in New York. Sadler promised the victim that he would invest her money in low-risk securities. But Sadler embezzled her money to buy more than $70,000 in gold coins.

Using the remainder of the victim’s investment, Sadler fled to Malta where he was found by the FBI.

The FBI and the Justice Department obtained an international arrest warrant for his arrest. In July 2009, Sadler was arrested by the Maltese police. He was found in possession of a forged British identification card with his picture but in another person’s name, an Irish passport, and a U.S. passport.

He was transported from Malta to Charleston by the U.S. Marshals Service.