Thomas John Sfraga was sentenced to 45 months in prison for operating a fraudulent investment scheme under the guise of Vandelay Contracting Corp., named after a fictional business from Seinfeld. He promised investors extraordinary returns, while actually misappropriating their funds for personal use and to pay earlier investors. After pleading guilty to wire fraud, he was ordered to pay $1.5 million in restitution. Victims described their financial ruin, underscoring the devastating impact of his actions. Despite an apology and claims of intention not to deceive, Sfraga faced significant consequences for his actions.
What you've done here is really inexcusable, Judge Block told Mr. Sfraga. Nonetheless, you have some redeeming qualities.
I trusted you, said a victim, a next-door neighbor in Brooklyn, revealing the emotional toll of Mr. Sfraga’s deceit.
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