Qns. woman sentenced for $1.3 million Ponzi scheme

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8/20/2012

By Ivan Pereira

A Long Island City woman was sentenced Monday to 3 to 9 years in prison for stealing more than a million dollars in a Ponzi scheme, officials said.

Between 2003 and 2008, Ibis Febles, 66, and her business partner, who is still a fugitive, collected more than $1.3 million from 30 investors and promised them a 14% return on real estate investments, the Queens district attorney said.

Febles, who pleaded guilty in May to several charges, never invested the money in real estate and refused to return the money to the investors, according to the DA.

This entry was posted on Tuesday, August 21st, 2012 at 5:27 pm and is filed under amNewYork, Breaking News, Crime, Print Articles. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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