- Associated Press - Monday, April 4, 2016

TRENTON, N.J. (AP) - A former investment adviser who organized a $1.178 million securities and annuities fraud scheme has been sentenced to seven years in prison.

Janet Fooshee also will pay $415,000 in restitution under the sentence imposed Monday.

The 64-year-old Lambertville resident pleaded guilty last December to defrauding more than two dozen retirees and others over a 10-year period beginning in 2003.

Her 66-year-old husband, Richard Fooshee, also pleaded guilty in the case but was allowed to enter a pretrial program that allows him to avoid a jail term.

Officials say Janet Fooshee fabricated and mailed more than 100 financial account statements to various clients. She also stole the identities of at least eight corporations.

Fooshee stole the money in part to conceal financial losses that she incurred while managing various client accounts.

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