On February 15, 2017, James Seltzer, a former securities lawyer, was sentenced to six years in prison and ordered to pay more than $4.5 million in restitution for securities fraud.  According to the plea agreement, from at least October 2007 through May 2011, Seltzer made misrepresentations to investors in connection with the purchase and sale of securities.  Seltzer misrepresented to investors that he would use their money to make certain investments for their exclusive benefit but, in fact, diverted the funds for other purposes.  In many cases, Seltzer diverted all or virtually all of the money he received from investors, deposited those funds into his personal bank accounts, and spent them on his personal and business expenses.  In connection with this scheme, Seltzer defrauded 16 victims of more than $4.5 million.  In 2010, Seltzer fled the country and remained abroad for five years.  He was apprehended in Hawaii in September 2015. DOJ Press Release