Ponzi Schemer to be released

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By JOLEEN FERRIS

(WKTV) - Former financial adviser Jeffrey Herber went to prison for grand larceny in 2004. He'll walk out of Mohawk Correctional Facility in Rome on Monday, a year before the six-year minimum of his 6-16 year sentence.

He's getting out early because in 1997, New York State instituted a merit board. Model prisoners serving time for non violent crimes can get their sentences reduced by one sixth. So for Herber's 6-16 year sentence, that means he's eligible to get out one year early for good behavior.

"Marie" and her husband trusted Jeffrey Herber with their lives...their family...and their money. Between what they gave Jeffrey Herber to invest and the return it should have brought them, they lost around $100,000 dollars. When questions about their money were met with avoidance and evasion from Herber, the dark reality set in. Their money was gone. The family is furious that Herber will walk out of prison on Monday, a year before his minimum 6 years is served. The law says he's a non-violent felon, but marie says his weapon of choice was his computer and that it might as well have been a shotgun, for the pain and devastation it caused her family when he essentially stole the money her hard working, depression-era parents left her.

"I don't have the vocabulary to put into words the depth of the guilt I felt; I saw my mother and father, I saw my father fold the same paper bag five days a week to pack his lunch. I saw my mother work hot august weather," says "Marie."

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