A Woburn, Mass., investment advisor was sentenced to seven years in federal prison and ordered to pay $1.8 million in restitution for defrauding investors, the Securities and Exchange Commission announced Thursday.

Rosalind Herman fraudulently induced clients to entrust their savings and other funds with her and her business partner, Gregg D. Caplitz, by promising them large returns through her firm, Insight Onsite Strategic Management. Instead, the money was used to pay the personal expenses of Herman, her family and Caplitz.

In April, Herman was convicted in federal District Court in Massachusetts of conspiracy, investment advisor fraud, wire fraud and tax charges.

Caplitz pled guilty to conspiracy, investment adviser fraud, making a false filing with the SEC and wire fraud, and was sentenced to three years in prison. The SEC's litigation continues against Caplitz, Herman and her family.