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Shrewsbury Man Sentenced in
$12.5 Million Investment Fraud Scheme
BOSTON, MA—A Shrewsbury investment adviser was sentenced to 10 years in prison
following his conviction on 20 counts of fraud in federal District Court in Worcester in
connection with a scheme that bilked 15 investors of approximately $12.5 million. He was also
ordered to pay restitution to his victims.
Acting United States Attorney Michael K. Loucks, Bruce M. Foucart, Special Agent in
Charge, U.S. Immigration and Customs Enforcement - Office of Investigations in Boston and
Warren T. Bamford, Special Agent in Charge, Federal Bureau of Investigation - Boston Field
Office, announced that AMIT MATHUR, age 38, of Shrewsbury, Massachusetts, was sentenced
as the result of his conviction of 18 counts of mail fraud and two counts of wire fraud.
MATHUR held himself out as a fantastically successful investment adviser operating a
firm in Worcester known as Entrust Capital Management, Inc. During that period, MATHUR
received approximately $16 million from investors. According to evidence presented at trial,
MATHUR told investors -- in person and in marketing literature -- that Entrust was operating a
hedge fund that consistently achieved positive rates of return and did better than the general
stock market indices. In this way, MATHUR lulled his investors into a false sense of security to
persuade them to invest money and to leave their money with Entrust for the long term. In fact,
during its entire existence, according to the evidence introduced at trial, the Entrust fund suffered
consistent losses. Moreover, in several instances, MATHUR never even invested the money
investors gave him. Instead, he misappropriated more than $5 million of investors' money for his
own personal use, including luxury items such as several cars, gambling, New England Patriots
football season tickets, jewelry and clothing.
The case was investigated by U.S. Immigration and Customs Enforcement and the
Federal Bureau of Investigation. The U.S. Attorney’s Office also wishes to acknowledge the
efforts of the Securities and Exchange Commission in Boston in providing cooperation during
the investigation of this case. The prosecution was handled by Assistant U.S. Attorney John A.
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