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N.Y. man gets 20 years for $24 million Ponzi scheme
With dozens of his victims watching, an investment manager once dubbed by the media as "Brooklyn's Bernie Madoff," was sentenced on Friday to 20 years in prison for operating a decades-long Ponzi scheme that bilked hundreds of investors out of more than $24 million. Philip Barry, 53, was convicted last November by a federal jury in Brooklyn on one count of securities fraud and 33 counts of mail fraud for the three-decade crime, which prosecutors described as a classic Ponzi scheme. Barry, a resident of Brooklyn's Bay Ridge neighborhood, has also been ordered to repay $24 million to his victims, although ... (full story)