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Investment manager, Brian Callahan, faces 12 years for role in Ponzi scheme

09/19/2017 0

A swanky scammer will spend a dozen years behind bars for his role in a multi-million dollar Ponzi scheme connected to a failing East End beach resort. Brian Callahan, 48, was sentenced to 12 years in prison, in Brooklyn federal court Friday, for his role in a multi-million dollar Ponzi scheme associated with a failing East End beach resort. The onetime investment manager stole $118 million from 40 investors, between December 2006 and February 2012. He said the money was going to mutual and hedge funds. “For years, Brian Callahan peddled lies to unsuspecting investors, causing some to lose their life savings, and to delay their retirements,” said Acting Brooklyn U.S. Attorney Bridget Rohde. About $96 million of that money […]