Notable Massachusetts scams

By Sopan Deb, Boston.com Correspondent

In a scheme that started in the early 1980s and thrived for as long as 25 years, Frank Russo defrauded more than 250 North Shore investors of about $20 million.

In February 2008, the Wakefield man was sentenced to 18 years in prison after pleading guilty to federal criminal charges. He was also ordered to pay $2 million in restitution to his victims, many of whom were left financially destitute, and to forfeit his Wakefield house and other assets.

In a scheme that started in the early 1980s and thrived for as long as 25 years, Frank Russo defrauded more than 250 North Shore investors of about $20 million. In February 2008, the Wakefield man was sentenced to 18 years in prison after pleading guilty to federal criminal charges. He was also ordered to pay $2 million in restitution to his victims, many of whom were left financially destitute, and to forfeit his Wakefield house and other assets.
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