Alan Schneider, who admitted helping steal $60 million from investors, won't spend a day in prison.

A judge's decision Thursday to give him probation instead of sending him to prison outraged bilked investors, who said the ruling amounted to a free pass.

Schneider, according to prosecutors, was the lesser party in a scheme his wife, Joanne, ran to lure investors into fraudulent securities, mortgages and other investments that included the failed Cornerstone retail and entertainment development in Parma Heights.

He had pleaded guilty to securities and theft charges last month that could have resulted in up to 7½ years in prison.

Cuyahoga County Common Pleas Judge Eileen A. Gallagher instead skipped prison and sentenced him to five years' probation. Schneider must do 5,000 hours of community service.

As victims of the scheme threw up their hands in the courtroom and cursed under their breath, Gallagher said she was honoring the plea agreement. Assistant County Prosecutor Dan Kasaris deferred to Gallagher's decision, saying only that he was disappointed jail was not part of the sentence. He stressed afterward that the plea agreement left the sentencing up to the judge.

Joanne Schneider is scheduled to appear in the same court Mar. 12.

Investors who had urged Gallagher to take a stand against white-collar crime complained that the system failed and left no option but street justice. One told others she knew where Schneider lives and gave the address.

Cynthia Glenn, who told the court that she believed stress from the case had caused the heart attacks that killed her husband, sat with her mouth open, asking over and over if she had heard the sentence properly.

"It's disgusting," she said. "No justice."

Catherine Ulan urged Gallagher to give a harsh sentence to the operator of a Ponzi scheme, so he wouldn't be free in two years and living at a resort with money he hid away. She was incredulous that Schneider didn't even receive those two years.

"I want to know how to get in the program where you can steal $60 million and not go to jail?" she said. "Wow."

Court officials told Gallagher during the hearing that they have no evidence of Schneider hiding missing money.

The sentence brought the second gasp from victims during the session. The first came when Gallagher noted Bishops Roger Gries and James Quinn, from the Catholic Diocese of Cleveland, wrote on Schneider's behalf.

When victims spoke, most mentioned how the Schneiders had won their trust with prominent displays of Catholic imagery, mentioning they did business with the diocese and using faith as a bond.

Cleveland police officer James Simone, known as "Supercop," came to court to speak on behalf of Schneider, but Gallagher did not allow it. Simone said afterward that he was a friend of the Schneider family.

Schneider's lawyers said he rents an apartment for $300 a month and lives off Social Security and pensions.

Schneider apologized and said he never meant to cause harm. He said he and his wife paid returns to investors for years but were in over their heads on the Cornerstone project and kept taking in money to stay afloat.

"I did it not for my gain but to try and resurrect things and save them money," he said.