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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. If you'd like to learn more about protecting yourself from investment fraud, request your free copy of our book Five Signs of Investment Fraud ...And What to Do it it's Happened to You.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

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