Prosecutors say Thomas O'Meara cheated more than 50 people out of $16 million by getting them to invest in a gated housing development and an 18-hole golf course in Fresno that he said would host a PGA tournament in 2007.
As part of a plea deal with prosecutors, O'Meara admitted that he had lied about the PGA Tour's confidence in the project called the Running Horse Development. He also lied to investors about the financial condition of the development.
The 66-year-old O'Meara had pleaded guilty to wire fraud and money laundering earlier this year.
After being sentenced Wednesday, he was taken into custody.