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The Ridgefield resident has had various ownership interests in several pizza restaurants in Fairfield and Westchester counties.
Federal prosecutors wanted the court to imprison Scronic to twelve-and-a-half years for a $22 million Ponzi scheme. His attorney argued for no more than three years.
U.S. District Judge Cathy Seibel has given the SEC authority to file an order for “disgorgement of ill-gotten gains.”
He was not registered as an investment adviser, the SEC says, and investors were putting money in a “fictitious hedge fund.”
The money allegedly disappeared in bad trades and on personal expenses of more than $500,000 a year.
The Ridgefield-based company is rapidly growing in both Fairfield and Westchester counties, and is expanding into Long Island and New Jersey.
Fleishers Craft Butchery has over 10 wholesale clients in Fairfield County, as well as in Manhattan, Brooklyn and Westchester County.
Within the hamlet of Scotts Corners in Pound Ridge is a quarter-mile stretch of restaurants and shops, some new and some old, that has stood the test of time.