CATSKILL – A Queens man was re-sentenced in Greene County Court for willfully failing to pay restitution to victims of his $5.4 million fraud scheme, in violation of the terms of his prior sentenced.
Franklin Marone, 55, also pled guilty to perjury and false filing charges for submitting fraudulent financial disclosures concealing his assets from the court to avoid paying restitution to the victims.
Between 1998 and 2004, Marone, a former stockbroker, stole over $5.4 million from his fellow members of the ski patrol at a Catskills mountain resort through an elaborate investment fraud scheme.
He will be sentenced to a total of 10 1/3 to 29 years in state prison.
“After already being convicted once, the defendant showed no remorse for his prior victims and completely disregarded the law,” said state Attorney General Barbara Underwood. “No matter how covert or complex the scheme, my office will continue to work with our law enforcement partners to root out fraud and protect New Yorkers from financial exploration.”
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