Sheldon Silver's son-in-law Marcello Trebitsch has pleaded guilty to securities fraud for "running a $6 million Ponzi scheme" as reported by Ashley Southall for The New York Times:
According to the filings made public on Monday, Mr. Trebitsch admitted that he had duped clients by telling them that he would invest their money through a fund he controlled that would generate double-digit returns with minimal risk. He also provided the investors with fake account statements and tax forms that showed gains, masking the fact that he had invested only a portion of the money and suffered trading losses.
Earlier this year federal prosecutors hit Silver, the one-time New York Assembly Speaker, with corruption charges for allegedly taking $4 million in bribes in exchange for legislative favors.
Further reading that may be of interest: