Coffee County Consultant Faces 10 Years in Prison for Fraud

A one-time financial consultant is in jail for cheating his clients out of thousands of dollars.

This week, Michael Von Kanel turned himself in at the Coffee County Jail.

Last spring, Von Kanel pled guilty for the sale of unregistered securities.

He was sentenced to 10-years in prison.

Von Kanel came up with several elaborate schemes involving company retirement plans.

But they were fraudulent and several large Coffee County business owners and their employees lost thousands of dollars.

Von Kanel's sentence is to run concurrently with any convictions for similar offenses he's received in the Birmingham area.

In addition, he's been ordered to pay back the money stolen from his victims.