DoJ

Former advisor Paul Marshall's prison term "will be little solace to the dozen victims who lost their life savings due to his greed and callous concern for their well-being,” the FBI says.

Clients thought they were investing in real estate developments that would be flipped for profit.

Overall, the advisor defrauded at least nine clients out of $1 million, which he used to pay for tuition and mortgage payments, federal prosecutors say.

The Ponzi-like scheme used investor funds to pay other investors’ debts and cover personal expenses.

The funds paid for multiple vehicles, bedroom furniture and debts at casinos, prosecutors say.

The defrauded clients included the advisor’s own in-laws, who had suffered from Alzheimer’s and a debilitating stroke.

The payout brings the distribution to more than $1.2 billion, a fraction of the more than $50 billion scam.

The claims come after internal struggles at the chapter left the boardroom “untenable,” the association says.

Investors were bilked out of approximately $611,000, say federal prosecutors.

Massachusetts is probing whether the firm's wealth management unit steered clients toward inappropriate investments and high-cost accounts.