By JOHN T. WARD
A financial advisor who resides in Little Silver was sentenced to up to seven and a half years in prison last week for scamming $9 million in client funds.
John Rogicki, 67, must spend a minimum two and a half years behind bars for his crimes under a sentence handed down Thursday in New York, a spokeswoman for the Manhattan District Attorney’s office told redbankgreen.
The sentencing follows Rogicki’s October 18 guilty plea to grand larceny and money laundering charges.
Rogicki’s home address was not available.
Authorities alleged that Rogicki, who was an advisor as well as the compliance officer at Train Babcock Advisors LLC in New York, stole $9 million over a decade from a charitable foundation set up by an elderly client, and used the proceeds to pay for real estate for his children and support his lifestyle.
Rogicki resigned from Train Babcock in January, according to the federal Securities and Exchange Commission.
The SEC is seeking to recover stolen money and unspecified penalties from Rogicki. An agency document filed last Thursday in the federal Southern District of New York says that a settlement has been reached and that documents about the terms were being finalized. The terms were not included.
