Ponzi Scheme Case Ends in 8-Year Prison Sentence
Keith Epstein, formerly an investment advisor in Farmington Hills, has
now been sentenced to eight years in prison for an alleged
Ponzi scheme. Earlier this year, Epstein had pleaded guilty to bank fraud in the case.
According to court documents, Epstein was accused of choosing many of his victims from among the elderly. He allegedly gained his investors' trust by giving gifts, giving to charity in investors' names, and attending clients' birthday parties and family weddings.
Unfortunately, many of the investors chose to liquidate their legitimate investments in favor of Epstein's purportedly safer offers. Epstein allegedly used a large portion of investors' cash to pursue a lifestyle that involved gambling, strippers, and adult entertainment, and used an additional amount to pay off prior investors.
The FINRA lawyers with Meyer Wilson represent victims of securities fraud in stockbroker mediation, arbitration, and litigation nationwide. We are proud to have recovered millions of dollars in losses for our clients, and look forward to speaking with you.
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