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Ex-Wife Of Former L'Oreal Prez Gets Two Years For Fraud

Law360, New York (February 17, 2015, 1:30 PM EST) -- A Manhattan federal judge on Tuesday sentenced erstwhile financier Ishita Ganguly to two years in prison after the Staten Island woman who seemed to hail from a "perfect family" admitted raising millions from investors with promises of massive returns and spending their money on jewelry and a Staten Island home.

U.S. District Judge Vernon S. Broderick also sentenced Ganguly, 33, the former wife of ex-L'Oreal president James M. Morrison, to three years of supervised release and ordered her to make $9.4 million in restitution.

Ganguly, who faces civil claims brought by defrauded investors in Brooklyn federal court and is pursuing Morrison in Connecticut...

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