ALEXANDRIA, Va. — A 53-year-old financial advisor from Ashburn, Virginia, is headed to federal prison for orchestrating a years-long investment fraud scheme that caused devastating losses for his clients.
Andrew Corbman was sentenced Friday to three years in prison for defrauding investors out of more than $4 million. A judge also ordered Corbman to pay $4.15 million in restitution to his victims.
According to court records, Corbman, who was once affiliated with a national estate planning company, used his position to gain the trust of individuals seeking help with trusts, annuities and long-term financial planning. Over the course of several years, he convinced two individuals and two couples to loan him money with the promise of high returns through stock market options trading…