The daughter of a convicted N.Y. broker was sentenced to 80 months in prison for her role in a Ponzi scheme that robbed 15 clients of more than $11 million, according to the United States Attorney for the Southern District of New York.
Vania May Bell, 57, of Montvale, N.J., was sentenced yesterday by U.S. District Judge Nelson S. Roman. She also was ordered to serve three years of supervised release, pay $8,041,233 in restitution, and forfeit $589,942. She pleaded guilty in March to one count of conspiracy to commit wire fraud.
Bell was the former comptroller and chief compliance officer of Executive Compensation Planners, Inc. (ECP), a New City, N.Y.-based registered investment adviser and financial planning firm, that was led by her father, Hector May, who served as president.
May, 81, pleaded guilty in December 2018 to charges of conspiracy to commit wire fraud and investment advisor fraud. He was sentenced on July 31, 2019, to 13 years in prison. He also was ordered to serve three years of supervised release, pay $8,041,233 in restitution, and forfeit $11,452,185.
According to the court document, May began providing financial advisory services to clients in 1982 and in 1993, Bell joined the company. The court said May became a registered representative of Securities America…
