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Leader of Real Estate Investment Firm Sentenced to 12 Years in Prison for Role in $658 Million Ponzi Scheme

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the staff of the ridgewood blog

Secaucus NJ, The shadow chief executive officer of National Realty Investment Advisors LLC (NRIA) was sentenced today to 144 months in prison for orchestrating a scheme to defraud more than 2,000 investors in a $658 million Ponzi scheme and conspiring to evade millions of dollars in tax liabilities, U.S. Attorney Philip R. Sellinger announced.

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