Fund Manager Gets 10 Years For $20M Ponzi Scheme

Law360, Los Angeles (March 18, 2013, 8:03 PM EDT) -- A former Beverly Hills, Calif.-based investment fund manager was sentenced to 10 years in prison Monday for running a Ponzi scheme with an ex-Nixon Peabody LLP partner that bilked investors out of more than $20 million, and then lying to federal investigators about the plot.

John Farahi, 55, pled guilty in June to four felonies: mail fraud, loan fraud, unregistered offer and sale of securities, a conspiracy to obstruct justice.

At a Monday hearing, U.S. District Judge Philip S. Gutierrez sentenced Farahi to the decade-long term...
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Case Title

Securities and Exchange Commission v. Newpoint Financial Services Inc et al


Case Number

2:10-cv-00124

Court

California Central

Nature of Suit

Securities/Commodities

Judge

Dean D. Pregerson

Date Filed

January 8, 2010


Case Title

Other court case number: 


Case Number

2:11-cr-01165

Court

California Central

Nature of Suit

Date Filed

December 7, 2011

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