Ex-Investment Adviser Gets Nearly 5 Yrs. For Stealing $3M

Law360 (April 13, 2018, 9:22 PM EDT) -- A New York federal judge on Friday sentenced a former Long Island investment adviser and hedge fund manager to nearly five years in prison and $5.3 million in restitution after he pled guilty to defrauding investors out of approximately $3 million to finance a lavish lifestyle.

U.S. District Judge Arthur D. Spatt sentenced Eric Erb, 40, to 57 months' imprisonment followed by three years of supervised release, along with $5,379,437 in restitution to his victims. The Levittown, New York, resident pled guilty to wire fraud in...
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