On February 16, 2021, U.S. District Judge Jeffrey Schmehl sentenced Robert McCabe to 4 1/2 years in federal prison and ordered McCabe to pay over $1.1 million in restitution to the more than 40 victims of his decade-long fraudulent investment scheme. McCabe plead guilty in November of 2020 to 21 counts of fraud including securities fraud, wire fraud, and mail fraud. The SEC had previously instituted a parallel civil action seeking injunctive relief, disgorgement, and civil money penalties. A...By: Pietragallo Gordon Alfano Bosick & Raspanti,

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