Glen Galemmo, who pled guilty in January 2014 to wire fraud and money laundering was sentenced to 15 years and 8 months in federal prison and ordered to pay $36.4 million in restitution.
Galemmo had been charged with running a $100 million ponzi scheme, Queen City Investments, using new investor money to pay returns to earlier investors. One of the victim/investors was the School of the Creative and Performing Arts, which has been forced to disband as a result of losing over $400,000 in the scheme.
Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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