Las Vegas man sentenced to 33 months for swindling fashion models
NEW YORK (AP) _ A Las Vegas man has been sentenced to 33 months in prison for stealing more than $1.5 million from young fashion models who sought his financial advice.
Peter Bucchieri, 41, pleaded guilty last November to conspiring with partner David Weil to sell fictitious Colorado real estate investments to naive, New York-based fashion models, primarily between the ages of 16 and 23. They actually transferred the money to their own bank accounts and used it to pay personal bills and make purchases, including a new Porsche.
Officials have declined to name the models in the case.
Bucchieri was sentenced Thursday in federal court and ordered to make full restitution to his victims.
Bucchieri and Weil gained access to the models through their company, Star Capital Management Inc., which offered investment advice and other financial services to women working for the Elite Model Management Corp. The two agencies had adjoining offices.
Bucchieri and Weil, 33, of North Salem, N.Y., were indicted in December 1995. Weil has pleaded guilty to federal bank and wire fraud charges and is to be sentenced next month.