Former Mayor in Hamptoms village gets 8-year sentence on securities fraud charges

A former Mayor in a small, New York village in the Hamptons will serve 8 years in prison after his conviction on federal securities fraud charges.

According to an AP report, George Motz, the former Mayor of Quogue, N.Y., also was president and CEO of Melhado, Flynn and Associates.

In that role, he admitted to a scheme known as “cherry picking” in which he secretly placed the more profitable stock trades into his own account and less profitable ones into his clients’ accounts.

The fraud scheme netted Motz about $2.2 million personally, according to federal charges.

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