KALISPELL, Mont. (AP) - A Montana woman has been sentenced to 10 years in prison for defrauding 16 investors out of nearly $700,000 and embezzling from the trust account of a man with mental and physical disabilities.
District Judge Amy Eddy also ordered Catherine Ann Finberg of Columbia Falls to pay more than $767,000 in restitution, The Flathead Beacon (bit.ly/2nW9XQ2) reported Wednesday. Her plea agreement called for $1 million in restitution, including interest. It was reduced by the proceeds from the sale of her house and assets frozen before she was charged.
“I accept full responsibility for my actions and have been tormented by what I did every hour of every day,” said Finberg, who was sentenced to 40 years in prison with 30 suspended.
A state investigation found Finberg, 58, lost money day trading in the stock market, used money from new investors to make payments to earlier investors and used some investors’ money to pay her mortgage, credit cards and other expenses.
Prosecutors said Finberg made herself the beneficiary or gained control of two accounts left by the grandparents of a mentally and physically disabled man to pay for his care and expenses. The total restitution owed to him was $244,000, court records said.
Officials said 28 people invested about $1.5 million with Finberg between 2008 and 2016. Some early investors got their money back. Three of the defrauded investors were considered vulnerable persons because of their age. One of the defrauded investors was her mother’s estate, which was owed $85,000 in restitution.
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Information from: Flathead Beacon, https://www.flatheadbeacon.com
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