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WEST PALM BEACH (CBSMiami/AP) — It’s 20 years in prison for a Palm Beach County man who bilked investors out of $80 million in a virtual concierge business.

Last December, Joseph Signore, 51, was found guilty of multiple charges, including fraud and money-laundering.

Signore sold video concierge machines through his Jupiter-based JCS Enterprises and falsely promised significant financial returns to 1,800 investors nationwide. Thousands of kiosks were pre-sold in the scam, but few were delivered.

Prosecutors said Signore, his ex-wife and 58-year-old Paul Schumack of Coconut Creek used money brought in by new investors to pay off earlier investors.

Schumack is scheduled for sentencing Thursday. Signore’s ex-wife will be sentenced Tuesday.

Signore had faced up to 30 years in prison.

(TM and © Copyright 2016 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2016 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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