The former head of investment advisory firm ACI Capital Group LLC was sentenced April 1 to 63 months in prison and ordered to pay more than $1 million in restitution in connection with charges that he stole money from clients (United States v. Scott, E.D.N.Y., No. 13-cr-520).
Fredrick D. Scott pleaded guilty in September in the U.S. District Court for the Eastern District of New York to charges of conspiracy to commit wire fraud and making a false statement to Securities and Exchange Commission investigators.
Prosecutors say he promised high rates of return to attract investors but kept ...
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