A judge on Thursday sentenced a Crystal Lake man, described as a “serial fraudster,” to nearly five years in federal prison after he pleaded guilty in an $8 million Ponzi scheme. As part of his plea, Hanke also admitted that he filed a bankruptcy petition and documents in a bankruptcy proceeding to conceal the conspiracy. “Today’s guilty plea reaffirms my Office’s efforts to root out white-collar crime where we find it and ensure integrity in the financial markets and the court system,” Peace said. Hanke successfully worked to have his sentencing hearing delayed multiple times in the case. Federal prosecutors called Hanke a “serial fraudster” who stole more than $8 million through a “brazen Ponzi scheme.”In a sentencing memorandum, prosecutors sought 60 months in prison, which is the statutory maximum.