ALBANY, N.Y. (AP) — An upstate New York investment adviser who admitted bilking investors out more than $10 million has been sentenced to 20 years in prison.
Former Schenectady resident Scott Valente was also ordered to pay $8.2 million in restitution at his sentencing Friday in Albany.
The 58-year-old Valente pleaded guilty in May to securities fraud and other charges stemming from his activities with his company, the ELIV Group of Albany.