Two former WJB Capital Group Inc. executives were sentenced to as long as 4-1/2 years in prison after pleading guilty to scheming to defraud investors of more than $11 million in an effort to prop up the now defunct broker-dealer (New York v. Romano).
The firm’s former chief executive officer, Craig A. Rothfeld, Manhattan, and co-founder Michael N. Romano, Commack, N.Y., admitted in July that they stole more than $1 million each from the firm by lying to lenders about WJB Capital’s finances.
Prosecutors said the men used some of the money for personal expenses, including homes in ...
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