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DA Vance Announces Sentencing of Two Individuals for Stealing From Investors in Separate Financial Schemes

Manhattan District Attorney Cyrus R. Vance, Jr., today announced the sentencing of two defendants recently convicted in separate financial fraud cases. ARUN GANGULY, 38, was sentenced to 2-to-6 years in state prison after pleading guilty to defrauding investment funds, start-up companies, and high-net-worth individuals by convincing them to hire him based on false pretenses, stolen identities, forged documents, and fictitious emails. In an unrelated case, JEAN JACQUES CHENIER, 63, was also sentenced today to 3-to-9 years in state prison for an elaborate scheme in which he fraudulently obtained more than $3 million from investors and used the money for his own personal expenses and to pay off other investors. As part of the sentencing, CHENIER signed confessions of judgment totaling approximately $3.8 million that he owes to investors.