Glen Galemmo client forced to pay back victims - Cincinnati News, FOX19-WXIX TV

Glen Galemmo client forced to pay back victims

Glen Galemmo (FOX19) Glen Galemmo (FOX19)
CINCINNATI, OH (FOX19) -

Three victims of Glen Galemmo's ponzi scheme will receive a $1.4 million settlement from one of Galemmo's other clients.

Through something called a 'clawback process' the three victims will be awarded money from a man who actually received payouts from Galemmo, not knowing the money came from the victims. 

Earlier this year, Galemmo was sentenced to 15 years in prison for running one of the biggest ponzi schemes in Ohio state history. 

He was given the maximum sentence of 188 months in federal prison. He is also required to pay $35 million in restitution. 

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