(Bloomberg) -- A California mutual fund manager was sentenced to four years in prison for defrauding investors whose $106 million he said would be put in US Treasury bills and other safe assets but was instead lost in much riskier investments.Most Read from BloombergHere’s How Much Wealth You Need to Join the Richest 1% GloballyMercedes Sets Out to Make Sexy Vans With Yacht-Like InteriorsThe $120 Million Ghost Ship Antigua Is Desperate to UnloadJPMorgan Asset Says Markets Are Right to Bet on US