STATEN ISLAND, N.Y. (CBSNewYork) — With a third conviction for a series of alleged scams that cost 250 investors $15 million, Peter Liounis of Staten Island got the book thrown at him.
Federal Judge I. Leo Glasser said the latest scam is as sophisticated as any scam he had the occasion to deal with in more than 30 years, WCBS 880’s Irene Cornell reported.
Liounis was sentenced to just under 25 years in prison.
His latest scam involved promising investors a 15 percent return on investments in a personal injury law firm, Cornell reported.
When the son of one investor called to withdraw his father’s $23,000 in order to put him into an assisted living facility, Liounis reportedly claimed the money was nearly gone and sent him a get well fruit basket instead.
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