NY Money Manager Gets 8 Years for Fraud

MANHATTAN (CN) - A former director of AFW Asset Management was sentenced to more than eight years in prison after pleading guilty to eight counts of fraud after stealing millions from investors. Matthew Weitzman, 44, must also forfeit more than $7 million to replace the funds he admitted in October 2009 to stealing. Weitzman forged documents to make it appear that clients had authorized the transfers.

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