South Florida Business Journal: Leonard Needelman, director of operations for Hollywood-based Cash Link, was sentenced to 97 months in prison, three years of supervised release and $16.98 million in restitution on August 25.
The government said Cash Link purported to sell cashless ATMs to the public, along with assistance in establishing, maintaining and operating a cashless ATM business, but falsely represented to potential purchasers that they would earn their investment back in 12 months or less.
"Needelman and others fraudulently induced over 800 consumers to invest a total of approximately $15 million in Cash Link," the government said.
