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

Woman Sentenced to 14 Years and $11.5 Million in Restitution for Securities Fraud

Posted on Oct 24, 2011

An investment advisor was sentenced to 14 years in prison and ordered to pay more than $11.5 million in restitution for an alleged Ponzi scheme that she reportedly ran for more than a decade. According to federal authorities, Sandra Venetis solicited investments from more than 100 clients. She reportedly convinced those clients to invest millions to make pension plan loans to doctors. It is alleged that Ms. Venetis made up doctors' names or forged the signatures of real doctors to make the purported scam seem real to investors.

Authorities alleged, however, that Ms. Venetis operated a Ponzi scheme. Instead of using the money for the stated purpose, they say she used it to pay off gambling debts, pay living expenses, and to travel internationally.

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