Pennsylvania investment advisor Bernard M. Parker has been sentenced to 87 months in prison and ordered to repay more than $1.2 million he stole from clients and used to remodel his home, make car payments and help his father-in-law.

Parker, 55, who ran Parker Financial Services from his home in Indiana, Pa., raised more than $1.2 million from his longstanding brokerage customers who were told they were purchasing legitimate real estate tax lien certificates and would earn returns of six to nine percent annually, according to the Securities and Exchange Commission documents.

The SEC, FBI, IRS and U.S. Postal Inspection Service conducted the investigation that led to Parker's arrest.

Parker scammed at least 22 clients, using their money to remodel his house, pay his father-in-law's medical bills and pay off earlier investors to make it appear he was successfully investing their money, according to the SEC.

Parker also filed false tax returns from 2010 to 2013, authorities said. He was tried in federal court and found guilty of securities fraud, mail fraud and four counts of filing false tax returns.

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