Ponzi Scammer Glen Galemmo Receives 15-Year Sentence

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Mani
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Former Cincinnati money manager Glen Galemmo was sentenced on Thursday for running a Ponzi scheme that may have topped $100 million. About a dozen investors’ testimony in court helped convince the judge to impose a stiff 15-year sentence. Glen Galemmo – The modus-operandi Hedge fund fraudster Glen Galemmo ran a Ponzi scheme at his Cincinnati-based Queen City Investments, which collapsed last year. Despite major losses, he claimed to have returned 432% from 2006 through 2011, without a losing year during the stretch. According to prosecutors, Galemmo orchestrated the complicated fraud for at least seven years. The investment advisor would play…

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Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports