Man sentenced in SEC impersonation scam
BOSTON (AP) — A Pennsylvania man has been sentenced to three years in prison for his role in a scam in which he and others pretended to be employees of the Securities and Exchange Commission to cheat people out of money.
The U.S. attorney’s office in Boston says 28-year-old Frank Gregory Cedeno, of Mahanoy City, Pennsylvania, was also sentenced Thursday to three years of probation and ordered to pay $366,000 in restitution.
Prosecutors say in one common version of the scam, victims received emails that used documentation with the SEC seal to get them to pay a fee to receive a portion of a legal settlement. Victims were told to send the money to members of the conspiracy, including Cedeno.
He pleaded guilty in December to wire fraud and money laundering-related charges.