BINGHAMTON, N.Y. (CBSMiami/AP) — It’s sentencing day for the second of two Florida men who bilked investors out of more than $10 million.
Bruce Kane of Fort Lauderdale is scheduled in federal court in New York. The 61-year-old former Ithaca resident faces up to 20 years in prison, a maximum fine of $250,000 and an order to repay more than $10 million.
Prosecutors say Kane was managing partner for a financial services company that received funds from investors located throughout the U.S., including upstate New York. He admitted to using the funds to buy a boat, pay off $280,000 in credit card bills and rent a waterfront condo in Florida.
He pleaded guilty in June to conspiracy to commit wire fraud. A co-defendant, Burton Greenberg, pleaded guilty in November 2015 in Florida.
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