Two associates of a New York businessman convicted in a $400 million Ponzi scheme have been found guilty in a scam that bilked thousands of investors out of $147 million.
Newsday reports that 39-year-old Diane Kaylor and 39-year-old Jason Keryc were convicted Tuesday of conspiracy and fraud.
Both were account representatives at Nicholas Cosmo's Agape World from 2005 to 2009 when they told investors their funds would be safe. But most of the money ended up paying representatives' commissions and going toward Cosmo's losing investments.
Cosmo was sentenced to 25 years in prison in 2011 in the scheme, which took $405 million from investors.
Kaylor's attorney says she's innocent and Keryc's lawyer says his client shouldn't be held accountable for Cosmo's crimes.
Their sentencing is scheduled for July 23.
