Ex-Goldmen President Gets Jail in Fraud Case

Former A.S. Goldmen & Co. President Anthony Marchiano was sentenced to 10 to 30 years in prison for defrauding investors of more than $100 million over the last decade by rigging small companies’ initial public stock offerings.

Marchiano was among four brokers at the defunct firm sentenced for their roles in the swindle, said Barbara Thompson, a Manhattan district attorney office spokeswoman.

New York State Supreme Court Justice Leslie Crocker Snyder handed out prison terms of five to 15 years to Marchiano’s brother Salvatore, four to 12 years to former broker Charles Trento and two to four years to Paul Cilmi.

The Marchiano brothers, the “A.S.” in the defunct brokerage’s name, were convicted in July of enterprise corruption, securities fraud and criminal possession of stolen property.

Authorities say Anthony Marchiano personally pocketed more than $40 million in illicit profit.