Read the latest news relating to investor claims and broker fraud.

Businessman Receives Maximum Sentence on Securities Fraud Charge

Posted on Nov 03, 2011

Last month, a New York businessman received the maximum federal sentence in a securities fraud case. Matthew J. Ryan was sentenced to 10 years and one month in prison after allegedly running a Ponzi scheme that defrauded 53 investors out of approximately $5 million. He is accused of creating a fake financial firm, American Integrity Financial Co., through which he conducted his scheme from 2002 -2010.

Many of Mr. Ryan's reported victims were senior citizens and those well known to him. Many have reportedly lost their retirement savings and have had to alter their financial plans because of Mr. Ryan's
actions.

Mr. Ryan has apologized to his victims.

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