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NYC Twins Get Prison In $2 Million Stock Scam

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NEW YORK (AP) — A New York pair of identical twin thieves is headed to prison for scamming more than $2 million from dozens of people by making phony promises of can’t-lose stock investments.

Makara and Tsele Nkhereanye were sentenced Friday to 3 1/2 to 10 1/2 years behind bars. They pleaded guilty last month to grand larceny and other charges.

The 39-year-old brothers admitted defrauding 40 people by promising high profits and guaranteeing they wouldn’t lose money.

Prosecutors say the Nkhereanyes hid years of losses by using victims’ original investments to pay bogus profits. The brothers also paid their own rent and bills with investors’ cash.

Their lawyers didn’t immediately return calls Friday.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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