American Championship Fighting’s President, Rico Vecchiarelli, was recently arrested on six counts of securities fraud and one count of theft.

He has since been successfully charged with stealing more than $130,000 of his client’s real estate investments

In return for his guilty plea, Vecchiarelli has been sentenced to ‘no more than eight years in prison’. The other six counts of fraud and the case of theft has been dropped.

Information Source: FightSport