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FT LAUDERDALE (CBSMiami) – A former TD Bank vice president has been sentenced to 30 months in prison for his role in ex-lawyer Scott Rothstein’s $1.2 billion Ponzi scheme.

Last October, Frank Spinosa pleaded guilty to conspiracy to commit wire fraud.

Spinosa, 54, conspired with Rothstein to “induce certain persons into investing money in the confidential settlements through material misstatements,” according to a statement by the U.S. Attorney’s Office.

Spinosa and Rothstein used the prestige and legitimacy of TD Bank, and Spinosa’s position as Regional Vice President, to give investors in the scheme a false sense of security. They then conned them into investments in phony legal settlements by creating documents that made it appear that certain investment funds were being held in restricted accounts at TD Bank when, in fact, they were not.

More than two dozen people linked to Rothsteins scam have been convicted. He is serving a 50-year prison sentence after pleading guilty to several charges.

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