(Corrects headline and first paragraph to show that Efrosman
was sentenced to more than 15 years, not eight years)
By Joseph Ax
NEW YORK Jan 15 A man who fled the United
States with millions of dollars he stole from investors in a
foreign currency investment fraud was sentenced on Wednesday to
more than 15 years in prison.
Aleksander Efrosman, 51, had pleaded guilty to wire fraud in
October 2012 after his extradition from Poland following a
years-long international manhunt. U.S. District Judge Nicholas
Garaufis in Brooklyn sentenced him to 188 months in prison and
ordered him to pay $4 million in restitution.
According to the U.S. Attorney's office in Brooklyn,
Efrosman, a U.S. citizen, collected $5 million from investors
between 2004 and 2005, claiming he would invest the funds in the
stock market and the foreign exchange market. Instead,
prosecutors said, he used the money for personal expenses,
including a trip to a Foxwoods Casino during which he spent more
than $3 million.
He fled the United States in 2005 with a fake Russian
passport and an assumed name, traveling to Mexico, Panama and
Poland, prosecutors said. At the time, he was still under
supervised release following a 1998 conviction on charges of
mail and wire fraud in connection with a different forex market
"This case proves the old adage: 'You can run, but you
cannot hide," U.S. Attorney Loretta Lynch said in a statement
after his sentencing.
Michael Schneider, a lawyer for Efrosman, did not
immediately respond to a request for comment.
The case is U.S. v. Efrosman, U.S. District Court for the
Eastern District of New York, No. 06-cr-00095.
(Reporting by Joseph Ax; Editing by Cynthia Osterman)