Glen Galemmo asks for shorter sentence - Cincinnati News, FOX19-WXIX TV

Glen Galemmo asks for shorter sentence in ponzi scheme

In January, Glen Galemmo admitted publicly for the first time that he took millions of dollars from investors but never invested it. In January, Glen Galemmo admitted publicly for the first time that he took millions of dollars from investors but never invested it.
CINCINNATI, OH (FOX19) -

The man at the center of what's been called one of the largest ponzi schemes in Ohio's history is asking for a shorter prison sentence.

In January, Glen Galemmo admitted publicly for the first time that he took millions of dollars from investors but never invested it. According to the plea deal, that totaled somewhere between $7 and 20 million, with up to 200 victims.

[Related: FOX19 Investigates: Man at center of massive Ponzi scheme admits guilt]

That was just months after he sat down with FOX19's Amy Wagner in an exclusive interview.

"What I can say is those who know me, who are good friends with me, they know I made every attempt to do what was right," Galemmo said in that interview.

[Related: EXCLUSIVE: Glen Galemmo at center of alleged Ponzi scheme speaks out]

In documents filed in federal court this week, the government recommended a 188-month (roughly 15-year) sentence for Galemmo based on the severity of his crimes.

Galemmo's attorney responded Tuesday, asking for a shorter sentence of 72 months, saying that a sentence of 188 months is "far greater than necessary to serve the statutory purposes."

In the memo written on behalf of Galemmo, Attorney Benjamin Dunsing said that Galemmo didn't mean for all of this to happen. The filing claims that Galemmo felt he was not allowed to fail, forcing him to conceal the failure of his hedge fund. It adds that he felt an immense amount of pressure to provide for his wife and children.

Judge Herman Weber is scheduled to determine how long he spends behind bars on Aug. 27.

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