Its seven years in the Big House for Igor Levin and Yevgeny Shvatsshteyn. That’s a year for each $1 million they stole from investors.
The judge, U.S. District Judge Sidney Stein, ordered the two scammers to also pay restitution of $7 million. The hapless duo pleaded guilty to fraud last December. Apparently, they never invested any of their clients’ money in international real estate, as they had promised. They instead sent the money back to banks in Levin’s beloved Ukraine.
He will love his native land even more after seven years, since he will be deported back to Ukraine at that time.
The dishonest duo has done hard time before. Shvatsshteyn spent over two years at the taxpayers’ expense a decade ago for mail fraud. His pal Levin cooled his heels for almost a year for a gun violation twenty years ago.
© 2011 Hedge Fund Writer LLC
