Accountant Admits Bilking Investors

A former Ithaca accountant will go to prison for 8 years after admitting he bilked investors, including family and friends in the Southern Tier out of at least $1.5 million.

Federal Prosecutors say 62 year old Bruce Kane of Fort Lauderdale pleaded guilty to conspiracy to commit wire fraud in the scheme that tapped into $10 million in what he said were secure investments to finance an elaborate, globe-trotting lifestyle.

In addition to the prison time, Kane has been ordered to pay restitution.

He is the second defendant that was charged in the case.  75 year old burton Greenburg of Plantation, Florida pleaded guilty last year and was also sentenced to prison time and ordered to pay restitution.