8 Years for $13 Million Ponzi Scam

MANHATTAN (CN) – “Investment adviser” Hayim Regensberg was sentenced Friday to more than 8 years in prison for defrauding customers of $13.5 million in a 3-year Ponzi scheme. Regensberg, 44, of Manhattan doled out money to himself and his relatives and forged a bank statement to show he had $9 million in the account though he actually had $9,000.

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