Feds Add New Counts To $40M Ponzi, Porn Seller Case

Law360, New York (November 1, 2010, 1:28 PM EDT) -- Prosecutors have added more than a dozen new counts of mail fraud to a case against Philip Barry, a New York money manager accused of running a Ponzi scheme that lost clients more than $40 million.

Barry, who ran the firm Leverage Option Management Co., swindled more than 800 investors over the course of more than 30 years, filtering the proceeds into personal expenses, private real estate deals and Barry Publications, a mail order pornography business, according to a superseding indictment filed Thursday in the U.S....
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