"Uncle Bill" sentenced to prison

Published On: Oct 03 2012 06:30:28 PM EDT

Scott Rothstein's uncle, William "Uncle Bill" Boockvor, was sentenced to four years in prison today for his role in his nephew's billion-dollar Ponzi scheme, according to federal officials.

He's also been ordered to pay $166,081 in restitution. Here's how the U.S. Attorney's Office described the 67-year-old Boockvor's role in a release:

According to filed documents and statements made in court, Boockvor, in furtherance of a fraudulent investment scheme being operated at RRA, would provide to employees of TD Bank fraudulent bank balance statements that falsely reflected the balances of trust accounts held by RRA at TD Bank. In addition, he would assist employees of TD Bank in preparing envelopes containing the fraudulent bank balance statements along with cover letters stating that the stated balances were accurate when, in fact, they were not. Employees of TD Bank would thereafter provide those envelopes containing the fraudulent bank balance statements to Rothstein in the presence of investors or their representatives, thus inducing the investors or their representatives into believing that balances existed in the accounts sufficient to fund their investments when, in fact, they did not. Similarly, Boockvor would provide to a co-conspirator posing as a TD Bank employee fraudulent bank balance statements that falsely reflected the balances of trust accounts at TD Bank. Subsequently, that co-conspirator would provide the fraudulent bank balance statements to investors or their representatives.