Health Care Sales Pro Gets 4½ Years For $10M Investor Scam

Law360, New York (June 9, 2021, 5:01 PM EDT) -- A Manhattan federal judge hit a health care sales executive with over 4½ years in prison Wednesday for assisting his former boss in a Ponzi-like fraud that cost their employee-investors nearly $10 million.

Along with the 55-month sentence, a masked U.S. District Judge Alvin K. Hellerstein ordered 67-year-old Marc Lawrence, who hails from Florida, to pay $4.5 million in restitution based on the amount of losses he directly caused while president of the fraudulent venture, Downing. The judge directed Lawrence to surrender to custody on Oct. 12.

"Those who cheat others have cheated themselves," said the judge, who found Lawrence's lawbreaking...

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