An Albertson man who pleaded guilty in September to defrauding investors out of more than $2 million was sentenced on Tuesday to five years in prison, according to published reports.
Nizar Othman, 31, was found to have taken advantage of personal relationships to fund a now-defunct Manhattan financial investment company, according to an Associated Press report. He was arrested last year while trying to board a one-way flight to Israel.
“This is a very serious offense. I’m still not convinced you appreciate the seriousness,” said U.S. District Court Judge Lorna Schofield in issuing her sentence, who went beyond the recommended sentence of four years and also ordered Othman to repay $2.1 million in restitution.
“People thought you were family, welcomed you into their homes and treated you like a son,” she said.
The government argued Othman misused the investment money he received, spending it instead on dinners, clothing and travel, the Associated Press reported.
“I’m so sorry,” Othman said during the sentencing, according to the A.P. “In a moment of weakness, I forgot what really mattered.”
Several victims spoke Tuesday, including Mary Butner, whose husband ran a mental health counseling company where Othman worked while forming his financial investment company.
Othman received $1.4 million from the Butners and dated their daughter, according to the Associated Press report.
“I cared for you as I did my own children,” Butner said, according to the A.P. “We gave him a place to stay. Fed him. Nurtured him, like a son.”
