CHEYENNE -- A federal judge on Friday sentenced a Wyoming securities agent who cheated clients out of more than $1 million to 46 months in federal prison.

U.S. District Judge Clarence Brimmer said Leo Timothy Buggy, 51, of Green River "just went nuts" when he started spending his clients' money.

Brimmer said Buggy had a long history of doing things right before he was treated for cancer several years ago and was diagnosed with bipolar disorder.

"Then your life just seemed to fall apart," Brimmer told the defendant.

Buggy pleaded guilty to federal charges of mail fraud, wire fraud and money laundering.

He had been a registered securities agent with AXA Equitable, a New York securities firm. He encouraged some clients to transfer holdings from the company to his personal bank accounts.

Prosecutors allege he created false account statements to assure victims their funds were secure.

Assistant U.S. Attorney Lisa Leschuck said AXA had reimbursed Buggy's clients for their losses. The judge ordered Buggy to reimburse the company more than $1.2 million.

Mary Lou Holcomb of Green River became emotional as she testified that her mother, Rose Rudy, had entrusted Buggy with all the insurance money she received after Holcomb's father died in a motorcycle accident.

Holcomb said her mother was relying on the money to supplement her Social Security income.

"In December, we discovered that he had taken all the money out of her accounts," Holcomb said.

The Wyoming secretary of state's office initiated its investigation as a result of complaints about his handling of Rudy's account.

Brimmer said he regarded AXA's decision to reimburse all of Buggy's clients as "absolutely an amazing corporate act, and one that doesn't happen very often."

Buggy told Brimmer he wanted to apologize to his family and friends, saying he didn't know how he let things get out of control.

After recovering from cancer, Buggy said, he was hit with bipolar disorder.

"You're aware of what you're doing, but you can't see what the consequences are," he said of his condition.

Still, Leschuck urged Brimmer to hold Buggy accountable.

"The bottom line is that he did this to himself," Leschuck said. "There are many people who have medical issues, and they deal with them. They don't steal $1 million of their clients' money."

Brimmer said he would recommend that the Bureau of Prisons send Buggy to a facility where he could receive medical treatment

Brimmer also ordered Buggy to reimburse Rudy and another former client a total of nearly $12,000 to cover legal fees they incurred in investigating what happened to their money.