Former NJ Fire Chief Gets 15 Years For $10M Ponzi Scheme

Law360 (May 22, 2019, 9:24 PM EDT) -- A New Jersey investment manager and former fire chief was sentenced to 15 years behind bars after he was convicted at trial of running a Ponzi scheme that bilked hundreds of clients, including friends and family, out of more than $10 million, federal prosecutors said Wednesday.

In December, a jury in Trenton federal court found Vincent P. Falci, 59, guilty of three counts of wire fraud and one count of securities fraud following a two-week trial, and on Wednesday, U.S. District Judge Anne E. Thompson sentenced him to 15 years in prison, U.S. Attorney Craig Carpenito announced.

The former fire chief...

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