NJ Investment Adviser Gets 14 Years For $11.5M Fraud

Law360, New York (September 8, 2011, 7:41 PM EDT) -- A New Jersey woman was sentenced Thursday to 14 years in prison for defrauding about 120 investors of more than $11.5 million in a $16.7 million Ponzi scheme run through her financial advisory business, the U.S. Department of Justice announced.

Sandra Venetis, 60, pled guilty to one count of securities fraud and one count of transacting in criminal property in April. Prosecutors said she lured clients from her financial advisory company, Systematic Financial Associates Inc., into investing in a phony alternative investment program she ran on...
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