Investment Advisor Sentenced To 97 Months In Ponzi Scheme

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.

Comments

One Comment

  1. teapartyad says:

    If Epstein committed a crime, why isn’t Obama a criminal for stealing half a billion dollars from us and giving it to his Solyndra pals. The DOJ is a very confusing bunch of folks.

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