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New York Couple Convicted of Ponzi Scheme for $12 Million

New York Couple Convicted of Ponzi Scheme for $12 Million

Posted By Law Offices of Daniel A. Hochheiser || 15-Nov-2012

A term named after a criminal from over a century ago has now become a way of describing a certain fraudulent act involving investments. A “Ponzi scheme” was coined after the man Charles Ponzi who in the early 1900’s was known for created fraudulent investments that would return money back to the investors, and they would never actually see any of the profits they were earning. While this scheme was not actually originated by this man, he was one of the first in the U.S. to have succeeded in taking such large amounts of money in his scheme that it was officially named after him in 1920.

In New York, a couple has recently been charged with specific crime after having fraudulently made their way into making $12 million in profit from their Ponzi scheme. Andrew S. Mackey was convicted for the crime and has been sentenced to spend 27 years behind bars for his actions. His “partner in crime” and his wife, Inger L. Jensen, was also convicted for the crime and is sentenced to time behind bars as well, though much less, 15 years.

Their charges were specifically for 15 counts of wire fraud, as well as mail fraud and conspiracy; they were convicted of the crime in May of this year and received their final sentencing just this week. According to the United States Attorney, Yates, this couple had their scheme going between the years of 2003-2007 and they presented themselves to the New York public as successful financial experts as well as investment advisors. The Examiner states that their actions had many people fooled into thinking that the offshore investments they poured their money into would actually return as a financial gain, and little did they know they would never see their dollars again.

An FBI Press Release claims that the husband and wife duo had their plan thoroughly thought through to the point that the intermediaries they hired believed their scheme and they would be the ones going out into the public finding new investors. During their interrogations they portrayed the belief that everything they were doing was not only legal, but helping their clients. Mackey and Jensen’s scheme convinced over 150 people into investing their money, more than $12 million, into their fraudulent accounts.

White collar crimes are not unheard of today, people seeking to make extra money can discover ways in which to make more than they ever would have imagined. Ponzi schemes are one of those crimes that have to continually be maintained in order to keep the profit, and as more and more investigators look into the plans, the harder it is to keep it going. Fortunately, here in the United States we have the ability to fight any and all charges placed against us, no matter the amount of evidence that may be piling up on the prosecutions side. If you or someone you know has been accused of a crime of fraud, contact a trusted and experienced New York City criminal defense attorney.

At the Law Offices of Daniel A. Hochheiser we are prepared to handle any and all criminal cases that may come our way, and we want to help you. With over 36 years of criminal defense experience behind our doors, we have had the privilege helping many clients either reduce their sentencing or be dismissed all together. While we can make no guarantees, we will do whatever we can in order to fight for you. Contact our firm today to fill out a free online case evaluation or call us today to set up an appointment. We want to aggressively fight on your behalf; it’s not over for you yet!

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