NYC Money Manager Gets Up To 9 Years For $7M Fraud

Law360, New York (March 23, 2011, 7:01 PM EDT) -- A New York state court judge sentenced a former money manager Wednesday to three to nine years in prison for allegedly stealing $7 million from victims who thought their cash would be used for investments linked to the Chimay royal family of Belgium.

In addition to the prison time, Judge Gregory Carro of the Supreme Court of the State of New York, County of New York, ordered Guy Albert de Chimay to pay $6.64 million in restitution.

Chimay, who billed himself as a cousin of the...
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