A Wagoner man sentenced Tuesday to 120 months for money laundering also was ordered to make more than $1 million restitution.

Phillip Raglin, 23, admitted in May to selling unregistered securities in the federal money laundering case. His sentence was the maximum under federal guidelines, a prosecutor said.

Some investors have received partial reimbursement from the Oklahoma Department of Securities, which confiscated luxury cars, bank accounts and other Raglin assets.

So far, restitution has totaled about 41 percent of what investors lost, Special Attorney to the U.S. Attorney General Susan Dickerson Cox said.

Raglin stood in an orange jump suit, belly chains and handcuffs as he listened to his sentence. Several family members in the audience wept softly.

Lyle Trotter was one of several investors in Raglin Industries LLC who attended the sentencing.

“I think it was fair and deserved,” said Trotter, a retired truck driver. Trotter said he and his wife are paying off a loan they made to invest with Raglin.

The Trotters had planned on retiring on the money they thought they would receive from their investment with Raglin.

Raglin is to serve three years supervised release after serving his prison term, said U.S. District Judge Ronald A. White. He also is not to engage in any new financial endeavors during that time.

He faces 67 counts of obtaining money by false pretenses in Wagoner County District Court, said Bill Wilson, investigator for Wagoner County District Attorney’s Office, who attended the Tuesday sentencing.

A trial date is expected to be set during a felony jury sounding docket that begins at 1:30 p.m. Oct. 6 in Wagoner County District Court.

Raglin is charged there with bilking Wagoner County investors out of nearly $400,000.

A friend and former Wagoner High School classmate of Raglin’s, Joe Layne, 24, also had been charged with Raglin the 67 felonies in state court. Wagoner County prosecutors said Layne received $18,000 from the scheme.

Joe Layne pleaded guilty in Wagoner County District Court to 13 counts of obtaining money by false pretenses and received a five-year deferred sentence.