wire fraud http://wamc.org en Albany Brokers Sentenced For $4M Ponzi Scheme http://wamc.org/post/albany-brokers-sentenced-4m-ponzi-scheme <p></p><p>Two upstate New York investment brokers have been given federal prison sentences for diverting more than $4 million of their clients' funds to pay personal expenses, their firm's employees and its preferred clients.</p><p>Local media outlets report that 65-year-old Timothy McGinn of Clifton Park was sentenced Wednesday to 15 years and 68-year-old David Smith of Saratoga Springs got 10 years. A federal judge in Utica also ordered them to pay $5.7 million in restitution and costs.</p> Wed, 07 Aug 2013 20:26:20 +0000 Dave Lucas 70953 at http://wamc.org Albany Brokers Sentenced For $4M Ponzi Scheme Police: NY Car Assist Leads to Wire Fraud Arrest http://wamc.org/post/police-ny-car-assist-leads-wire-fraud-arrest <p>State police say a trooper who stopped for a disabled car in Westchester County discovered the driver was wanted by the Secret Service for an alleged $1 million wire fraud.&nbsp; WAMC&rsquo;s Tristan O&rsquo;Neill reports&hellip;</p><p>The arrest occurred Sunday evening on the Sprain Brook Parkway in Yonkers.</p><p>Darrin Foster, of the Bronx, is accused of stealing the money from his former employer, an investment firm in Westport, Conn.</p><p>Police also discovered that Foster allegedly had a suspended license for failure to pay child support.</p> Tue, 29 May 2012 12:05:43 +0000 Tristan O'Neill 39932 at http://wamc.org Police: NY Car Assist Leads to Wire Fraud Arrest