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12 years for $96m Ponzi schemer

Instead of putting investors’ money in a mix of mutual funds and hedge funds, the duo paid partial redemptions to previous owners and funneled it into Panoramic View, a 117-unit Montauk resort.

The Long Island Ponzi schemer — who used millions in pilfered funds to buy a beachfront resort in Montauk — will be spending his next 12 years in the clink, the Justice Department said Friday.

“For years, Brian Callahan peddled lies to unsuspecting investors, causing some to lose their life savings, and to delay their retirements,” Acting US Attorney Bridget Rohde said in a statement.

Callahan, 48, ran the $96 million Ponzi Scheme with his brother-in-law Adam Manson for six years until they were slapped with civil charges in 2012.

Criminal charges followed a year later, and the pair pleaded guilty to securities and wire fraud in 2014.


  • Investment manager faces 12-year prison sentence for role in multi-million ...New York Daily News
  • Panoramic View co-owner sentenced to 12 years for Ponzi schemeNewsday
  • Panoramic View Fraudster Sentenced To 12 Years, Ordered To Pay $68
  • Fund manager sentenced to 12 years in Hamptons Ponzi schemeNew Jersey Herald
  • Man Who Pled Guilty In $96M Ponzi Scheme Gets 12 YearsLaw360 (subscription)

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12 years for $96m Ponzi schemer


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