The son in law of disgraced New York politician Sheldon Silver was indicted Monday on two charges unrelated to the separate investigation into his famous power-broker relative . Just three months after Silver himself was arrested on corruption charges , his son-in-law Marcello Trebitsch , 37 , was accused of running a $ 7million Ponzi scheme . The Brooklyn resident was in court on Monday as prosecutors accused him of lying to investors about stock losses and pocketing most of the money entrusted to him for trading . Trebitsch is married to Silver 's daughter Michelle . Despite being a co-owner of their mutual fund , Allese Capital LLC , and a certified public accountant who 'kept the books ' , Michelle has not been charged in the scheme . The son-in-law of Sheldon Silver was charged Monday with allegedly running a $ 7million Ponzi scheme . Silver , the former Speaker of the New York State Assembly , was charged in January for allegedly taking $ 4million in brides and kickbacks since 200 . Silver pictured above entering court for his arraignment on February 24 . The criminal complaint was filed by Manhattan U.S. Attorney Preet Bhahara , the same prosecutor who led the investigation into Silver 's alleged corruption . But sources told the New York Daily News that the investigations are unrelated . 'Investing in securities entails certain risks , but should not include the risk of being defrauded by one ’ s investment manager , ' Bhahara said . According to the complaint , Trebitsch took millions from investors , promising to invest their money in large-cap stocks through his mutual fund . However , prosecutors say he only invested a fraction of the money and used the rest to finance his family and pay back other clients . Meanwhile , he allegedly lied to investors about what money he did invest , sending them fake account statements and tax forms that showed them posting positive returns along the lines of his promised 14 to 16 per cent - keeping 'enormous trading losses ' secret . Trebitsch ran the scheme from 2009 through December 2014 , according to the complaint . Trebitsch has been charged with securities and wire fraud and is currently free on $ 500,000 bond . If convicted he faces the possibility of 40 years in prison and fines of up to $ 5.25million . Father-in-law Silver was arrested in January , on charges he took $ 4million in brides and kickbacks since at least 2000 . Following his arrest , Silver was forced to give up his leadership position as Speaker of the New York State Assembly . Silver has viciously denied the charges , and has said he is 'confident ' he will be 'vindicated in the courtroom ' . If convicted , the 71-year-old faces the possibility of 60 years in prison .
Marcello Trebitsch , 37 , was indicted Monday on securities and wire fraud charges . The Manhattan resident is married to the daughter of disgraced former New York State Assembly Speaker Sheldon Silver . Just three months ago , the same prosecutor hit Silver with corruption charges for allegedly taking $ 4million in bribes and kickbacks . Silver has fiercely denied the charges .