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Press Release

Florida Man Sentenced To Eight Years In Prison For Investment Fraud Conspiracy

For Immediate Release
U.S. Attorney's Office, Northern District of New York
Many Victims from Upstate New York

SYRACUSE, NEW YORK –Burton Greenberg, 75, of Plantation, Florida was sentenced today in Federal Court in Fort Lauderdale, Florida after pleading guilty 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 was sentenced to 97 months imprisonment, ordered to pay restitution in the amount of over $10 million and ordered to pay a forfeiture money judgment of over $10 million. He was also ordered to serve a three year term of supervised release following release from imprisonment.

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 for himself. 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 own principal investment. From 2004 to 2013 Greenberg repeatedly assured the investors via e-mail that their investments were secure and profitable when he knew that was not the case.

The case was investigated by the Federal Bureau of Investigation. The case is being prosecuted by Assistant United States Attorney Geoffrey Brown.

Updated February 22, 2016

Financial Fraud