article_snippet.sent: disgraced New York politician Sheldon Silver son-in-law Marcello Trebitsch, 37, was accused of running a $7million Ponzi scheme.
article_snippet.sent: According to The criminal complaint, Trebitsch took millions from investors, promising to invest investors money in large-cap stocks through Trebitsch mutual fund.
article_snippet.sent: However, prosecutors say Trebitsch only invested a fraction of the money and used the rest to finance Trebitsch family and pay back other clients.
article_snippet.sent: Meanwhile, Trebitsch allegedly lied to investors about what money Trebitsch did invest, sending investors fake account statements and tax forms that showed investors posting positive returns along the lines of Trebitsch promised 14 to 16 per cent - keeping 'enormous trading losses' secret.
article_snippet.sent: Trebitsch ran the scheme from 2009 through December 2014, according to The criminal complaint.
article_snippet.sent: Trebitsch has been charged with securities and wire fraud and is currently free on $500,000 bond.
highlights_snippet.sent: Marcello Trebitsch, 37, was indicted Monday on securities and wire fraud charges .
  