Thomas John Sfraga, whose business Vandelay Contracting was named after a fictional character from 'Seinfeld', defrauded investors promising high returns. He was sentenced to 45 months in prison and ordered to pay $1.5 million in restitution after pleading guilty to wire fraud. Despite his claims of not intending to deceive, victims recounted how he devastated their finances, leaving them unable to achieve personal milestones. Judge Frederic Block criticized Sfraga's actions as inexcusable, emphasizing the significant impact on his victims during sentencing.
Sfraga's Vandelay Contracting Corp. was a vehicle for lining his pockets, prosecutors said.
Judge Frederic Block described Sfraga's actions as "inexcusable," highlighting the impact on victims.
Victims shared stories of financial ruin, stating Sfraga took money meant for weddings and retirement.
Sfraga, while apologetic, claimed he was not trying to deceive investors but acted under financial strain.
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