CHICAGO (AP) - The former head of a Chicago investment firm has been sentenced to six years in prison for stealing more than $9 million from clients in a Ponzi scheme that lasted eight years.
Prosecutors said 34-year-old Neal Goyal carried out the scheme from 2006 until 2014, when the U.S. Securities and Exchange Commission began asking questions about his Caldera Investments Group. They said Goyal’s office featured computer monitors with open trading windows, but he hadn’t even bothered to place any trades since 2009.
A majority of the money Goyal stole was from friends and family in the tight-knit Indiana community where his parents had been longtime leaders.
Prosecutors said he spent more than $2 million on luxury cars, expensive dinners and tropical vacations.
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