Wall Street trader gets 5 years in prison in Ponzi scheme

NEW YORK (AP) — A former Wall Street trader has been sentenced to over five years in prison after admitting to defrauding investors of $19 million in a Ponzi scheme. Seventy-one-year-old Paul Rinfret was sentenced Monday in Manhattan federal court. The sentencing followed his October guilty plea to wire and securities fraud. U.S. District Judge Gregory Woods imposed the sentence. Prosecutors say Rinfret carried out the fraud from at least 2016 through 2019. They say he used money from inve