Judge Won’t Trim Sentence: A federal judge...

Judge Won’t Trim Sentence: A federal judge rejected a request to cut the eight-year sentence of self-styled financial adviser David Bloom, who admitted diverting $10 million of investors’ money to fund a lavish life style. Bloom, 24, of Manhattan, is serving two consecutive four-year sentences at the Allenwood, Pa., federal prison camp after pleading guilty to one count each of mail fraud and securities fraud. He asked U.S. District Judge David N. Edelstein to reduce the prison term because it was “harsh,” compared to the sentences of other white-collar criminals and because Bloom is remorseful and undergoing psychological treatment. But Edelstein noted that Bloom’s crime “involved cheating friends and colleagues,” while other convicted white-collar thieves were charged with “crimes that, although they involved more money, involved fraud on the system, not particular individuals.”