Instead of the pomp of Rolls-Royces and penthouse living, Miami Beach real estate lender George Kalivretenos will spend the next seven years behind bars for stealing $5.6 million from clients.
U.S. District Judge Anthony Trenga in Alexandria, Virginia, also ordered Kalivretenos on Friday to pay $4.18 million in restitution. He pleaded guilty to wire fraud, making false statements and money laundering for a scam that diverted clients’ money to his elaborate lifestyle.
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