Former broker receives extra jail time for defrauding own mother

A former stockbroker convicted of defrauding his elderly mother, ex-girlfriends and a military veteran out of $360,000 will get as many as four years added to his sentence for an earlier $5.4 million securities fraud scheme, New York's attorney general said. Franklin Marone, 55, of Queens, New York, was sentenced in June to as many as 25 years behind bars for failing to pay restitution to members of the ski patrol at a Catskill mountain ski resort in New York, whom he duped into investing into fake equity funds, Barbara Underwood said. He got the additional time Tuesday after pleading guilty to perjury and false filings in Greene County Court last week. Mr. Marone was also sentenced to as long as four years in prison in Queens Supreme Court for defrauding his 89-year-old mother and others. That sentence will run concurrently to the time he got in Greene County, Ms. Underwood said. After Mr. Marone was released on parole in 2014, he spent lavishly on upgrades to Jeep Wranglers, premium spa memberships for himself and his girlfriend and a $4,000 cruise, rather than repaying the ski patrol victims, according to the statement. He filed bogus financial paperwork to hide his assets, Ms. Underwood said. "After previously being convicted of fraud, the defendant has shown zero remorse for his victims — and a complete disregard for the law," Mr. Underwood said.