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Ponzi scheme victims react to judge's $363 million ruling
The uncle of convicted Fort Lauderdale Ponzi schemer Scott Rothstein was sentenced Wednesday to four years in prison for a fraud charge related to the massive scam.
After serving his prison time, William Boockvor will also have to complete three years of supervised release after pleading guilty in February to a fraud conspiracy charge for helping his nephew, the U.S. Department of Justice said.
U.S. District Judge Kenneth Marra sentenced Boockvor in West Palm Beach.
Prosecutors said Boockvor gave investors falsified bank statements making it appear their money was safe. The $1.2 billion scheme involved investments in phony legal settlements concocted by Rothstein and others at his now-defunct Fort Lauderdale law firm Rothstein Rosenfeldt Adler.
Prosecutors said Boockvor gave TD Bank employees "falsely inflated bank statements of RRA's trust accounts" and provided those statements to a co-conspirator who posed a TD Bank employee who met with investors.
Rothstein is serving a 50-year prison sentence at an undisclosed location and eight others have been charged including Boockvor.