A Mound man who allegedly defrauded investors, including a half-dozen Northwest Airlines pilots and a flight attendant, out of more than $2 million through a real estate investment scheme has been handed an 87-month prison sentence by a federal judge.

Business and professional news from southeast Minnesota.

In March, Ralph Ronzio went to a warehouse in a seedy part of Orange County, California, and watched a man auction off his condo for half what hed paid for it. Ronzio had bought the place for $329,000 in 2005, when he moved to Southern California from Rhode Island to take a job at a data-storage company. It was the first place hed ever owned.