A fund manager whose customers inquired about their accounts after hearing about Ponzi king Bernard Madoff’s fraud was sentenced to 40 years in prison Friday, and the judge said he could not understand why he bought a $25 million mansion in the Hamptons as he was ruining his investors’ futures.
James Nicholson, 44, of Saddle River, N.J., showed no emotion as U.S. District Judge Richard Sullivan announced the sentence for his $140 million fraud in a courtroom packed with more than 50 jilted investors, including some of Nicholson’s own family members.
