Florida Man Pleads Guilty to Investment Fraud Conspiracy
SYRACUSE, NY—Burton Greenberg, 75, of Plantation, Florida pled guilty on November 6, 2015, in Federal Court in Fort Lauderdale, Florida to a Northern District of New York indictment charging him with conspiracy to commit wire fraud, announced United States Attorney Richard S. Hartunian and FBI Special Agent In Charge Andrew W. Vale. Greenberg faces a maximum term of twenty years’ imprisonment, a fine of up to $250,000, an order of restitution in the amount of over $10 million and a forfeiture money judgment of over $10 million. Sentencing is scheduled for January 22, 2016 in federal court in Fort Lauderdale, Florida.
Greenberg is President/CEO of M&P Global Financial Services, Incorporated, a Florida based corporation that entered into agreements in 2001 with Global Financial Fund 8, LLP, a company that solicited and received over $10 million from investors located throughout the United States, including residents of the Northern District of New York. As part of his guilty plea, Greenberg admitted that rather than investing the money in a secure investment as promised, he instead used the funds to make separate investments on his own behalf. In an effort to avoid detection and allow him to continue to divert money for his own use, Greenberg helped orchestrate the payment of phony “profit” distributions to investors in 2004 and 2005 which were merely a partial return of their principal investment. Further, from 2004 to 2013 Greenberg repeatedly assured the investors via e-mail that their investments were secure and profitable when he knew this was false.
The case was investigated by the Federal Bureau of Investigation. The case is being prosecuted by Assistant United States Attorney Geoffrey Brown.