Broker convicted in $147M Ponzi scheme headed to prison

CENTRAL ISLIP, N.Y. – A Long Island financial broker is headed to prison and has been ordered to pay back investors nearly $180 million.

Newsday reports ( ) that Jason Keryc was sentenced in federal court Wednesday in Central Islip to serve nine years in prison and three years of supervised release.

Keryc was convicted of conspiracy and fraud in April for his role in a Ponzi scheme while working for a Hauppauge-based investment firm that bilked thousands of investors out of $147 million.

Keryc was an account representative at Nicholas Cosmo’s Agape World from 2005 to 2009. Federal prosecutors say he pocketed nearly $9 million in the scheme and helped convince investors their funds were safe in short-term business loans with high interest rates.

Keryc says he’s a good person who made “a terrible mistake.”


Information from: Newsday,