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NY Ex-Atty Gets 7 Years For $3.4M Investment Scheme

Law360 (July 3, 2018, 4:20 PM EDT) -- A former attorney was sentenced to seven years in prison in New York federal court on Tuesday for bilking investors out of more than $3.4 million for what he claimed were investments backed by real estate and life insurance policies.

According to a release from U.S. Attorney James P. Kennedy Jr.’s office, James A. MacCallum, 46, of Bemus Point, New York, used the money he reaped from his victims to pay off past investors and for personal and office expenses. The release details that as part of his fraud, MacCallum urged some of his victims to liquidate their other investments, telling...

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