ATM Investment Fraudsters Must Pay $58M Restitution

Law360, New York (May 25, 2011, 7:42 PM EDT) -- A New York federal judge on Wednesday ordered the operators of an $80 million ATM investment scam to pay nearly $60 million in restitution to victims.

Walter Netschi and co-conspirator Vance Moore must pay about $58.4 million to investors they swindled, U.S. District Judge Thomas P. Griesa ruled. The decision caps off federal prosecutors' 20-month-long case against the two.

Judge Griesa sentenced Netschi to more than eight years in prison in April, following his November conviction on one count of conspiracy and nine counts of wire...
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Case Title

Related  Case: 


Case Number

1:09-cr-00881

Court

New York Southern

Nature of Suit

Date Filed

September 16, 2009

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