Ex-Nixon Peabody Partner’s Co-Defendant Pleads Guilty to Ponzi Scheme

After entering a guilty plea, John Farahi, founder of Newpoint Financial Services Inc., was sentenced to 10 years in federal prison on March 20, according to a National Law Journal story. The Beverly Hills businessman admitted his role in a $20 million Ponzi scheme and the plea could have ramifications for former Nixon Peabody securities partner David Tamman, who was found guilty for his role in the scheme.


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