No 'Free' Offense For Investment Fraudster: US Attys

Law360, New York (September 10, 2010, 4:18 PM EDT) -- Prosecutors have asked a court for an eight-year prison sentence and a $4.5 million restitution order for former financial adviser and alleged rapist Stephen Clifford, who has pled guilty to defrauding investors out of more than $4 million.

Prosecutors told the U.S. District Court for the District of Massachusetts on Thursday that 97 months in prison and restitution about equal in size to Clifford’s fraud were appropriate, considering the scope and impact of his scheme.

Prosecutors also insisted Clifford serve the recommended 97 months consecutive to...
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