Peter Lombardi, the CEO of Mutual Benefits, the billion-dollar life settlement company that was operated as a Ponzi scheme by its owners, and who received a 20-year sentence for being the front man for a convicted felon, will be released on July 6, since the Court quietly reduced his sentence to eighty months recently. He has been incarcerated locally, at Miami FDC, so that he would be available to testify against other defendants in the Mutual Benefits Corporation case. I am wondering how those Ponzi scheme victims, who lost everything in the fraud, feel about this.
|Mutual Benefits staff|
The real question is whether Lombardi's boss , the real CEO and owner of Mutual Benefits, Joel Steinger, who is up for sentencing soon,will get 30 years, or life.