Real Estate Fraudster Gets 5 Years In $58M Rip-Off Of Clients

By Pete Brush (Dec 2, 2021, 4:36 p.m. EST) – A Manhattan federal judge has beaten a Connecticut fund manager who on Thursday fined more than 330 $ 58 million investors to five years in prison, saying the defendant did not fully assume responsibility despite admitting that he was promoting false real estate offers.

Eric Malley, center, leaves Manhattan federal court on Thursday. (Pete Brush | Law360) US District Judge Edgardo Ramos also ordered the 51-year-old defendant Eric Malley to forfeit $ 5.6 million, reimburse his victims $ 33.2 million and be remanded on January 25 to hand over.

“The damage in this case is real,” said Judge Ramos. “You can’t hurt people for years and …