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- The evidence at trial established that Barry actually was running a Ponzi scheme, paying returns to Leverage Group investors not from any profits earned on investments, but rather from existing investors' deposits or money paid by new investors.
archives.fbi.gov › archives › newyorkFBI — Investment Manager Convicted of Securities Fraud and ...
Jun 17, 2011 · NEW YORK (Jessica Dye) - With dozens of his victims watching, an investment manager once dubbed by the media as "Brooklyn's Bernie Madoff," was sentenced on Friday to 20 years in prison for operating a decades-long Ponzi scheme that bilked hundreds of investors out of more than $24 million.
Jun 17, 2011 · June 17, 2011. Brooklyn-Based Defendant Induced Hundreds of Individuals Throughout the United States to Invest More than $40 Million. Philip Barry, a former investment manager who was based in Bay Ridge, New York, was sentenced today to 20 years of imprisonment by United States District Judge Raymond J. Dearie at the federal courthouse in Brooklyn.
In November 2010, Barry was convicted after trial on all counts of a 34-count indictment charging securities fraud and mail fraud for operating a longstanding and large-scale Ponzi scheme. As part of the sentencing, Judge Dearie ordered Barry to pay restitution of $24,146,540.
Feb 11, 2015 · Alleged Roles in Philip Barry Ponzi Scheme Investment banks including J.P. Morgan Chase & Co. and M&T Bank Corp. Feb. 6 mounted a successful challenge to investors’ claims they breached their fiduciary obligations by failing to monitor accounts maintained by former Brooklyn money manager and convicted fraudster Philip Barry (Marchak v.
Jun 17, 2011 · N.Y. man gets 20 years for $24 mln Ponzi scheme. By Reuters. June 17, 201112:08 PM PDTUpdated 13 years ago. Summary. Investment manager bilked 800 investors out of $24 mln. Prosecutors wanted...
The evidence at trial established that Barry actually was running a Ponzi scheme, paying returns to Leverage Group investors not from any profits earned on investments, but rather from...
Aug 15, 2011 · Philip Barry, a money manager from Brooklyn, New York, was sentenced to 20 years in prison for running a $45 million Ponzi scheme that defrauded hundreds of investors over three decades....
