MANHATTAN (CN) – Christoph Schlutz-Reineke was sentenced Wednesday to 15 years and 8 months in federal prison for defrauding more than 500 investors of $27.5 million in an investment scam. Most of the victims of his Results Securities and Signature Investment scam were from Germany.
Schlutz-Reineke, 41, apparently just took the money and spent it on himself and his co-conspirators, and sent bogus statements for securities purchases he never made. He also was ordered to forfeit $21 million and pay $27.5 million in restitution.
A co-conspirator, Richard Sisselman, 46, of Park Ridge, N.J., was sentenced in March to 51 months in prison. Co-conspirators Andre Volke and Thomas Lech have pleaded guilty and await sentencing. Defendant Francesco Copertino remains at large.