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Investment Advisor Sentenced To 97 Months In Ponzi Scheme

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DETROIT (WWJ) – A Farmington Hills investment advisor has been sentenced to 97 months for spear heading a $4 million Ponzi Scheme.

As part of his scheme, 56-year-old Keith Epstein directed clients – many of whom were elderly – to liquidate investments in order to put them in new, less risky instruments with him. He then diverted those funds for  his own use — and spent it on things like gambling and strip clubs.

In addition to his prison sentence, Epstein was ordered to pay all his victims back.

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