Feds Want Up To 8 Years For Ex-NYSE Broker In Crypto Scam – Law360

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By Rachel Scharf (February 11, 2022, 5:55 PM EST) — Prosecutors told a Manhattan federal judge on Thursday that a former New York Stock Exchange floor broker should spend between 6½ and eight years in prison for fraudulently raising $35 million via a bogus cryptocurrency trading club.

Michael Ackerman is scheduled for sentencing Tuesday after pleading guilty to one count of wire fraud tied to his trading venture, Q3. Federal prosecutors said that in light of Ackerman’s “egregious” crimes, U.S. District Judge Laura Taylor Swain should impose a prison sentence within the guidelines range of 78 to 97 months.

“The defendant perpetrated a massive fraud that cost investors tens of millions…

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