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L.A. Man Gets 24 Years in Massive Fraud

June 07, 2003|From Bloomberg News

A Los Angeles man convicted for his role in a telemarketing scheme that defrauded more than 3,000 people of $50 million was sentenced to 24 years in prison and must repay $49 million to his victims.

Marc David Levine, 45, of Woodland Hills was convicted in January on 24 counts of wire fraud, securities fraud, conspiracy and other charges, according to the U.S. attorney's office in San Diego.

Prosecutors said Levine's Los Angeles-based telemarketing group sold purported securities related to Internet service providers, pay-per-call services and other ventures.

Thirty other people have been convicted in connection with the scheme and three more are awaiting trial.

"The sentence was fully justified in light of the magnitude of the fraud," said Carol Lam, the U.S. attorney in San Diego.

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