- Associated Press - Friday, February 19, 2016

SYRACUSE, N.Y. (AP) - Federal authorities in New York say a 75-year-old Florida man has been sentenced to eight years prison and ordered to pay restitution for participating in a scheme that bilked investors out of $10 million.

Prosecutors say Burton Greenberg, who pleaded guilty to conspiracy to commit wire fraud in November, and two others used $10 million in investments to pay off personal debts, rent a waterfront condo and buy a boat.

Greenberg, of Plantation, Florida, faces eight years in prison.

He is president of M&P; Global Financial Services, which entered into agreements in 2001 with Global Financial Fund 8 that solicited money from investors across the U.S., including upstate New York.

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