Mobster gets 11-year sentence for securities fraud

A federal judge Tuesday sentenced a longtime associate of the Genovese organized crime family to 11 years in prison for securities fraud.

Frank Schwamborn, 49, of Farmingdale, and his attorney asked U.S. District Judge Sandra J. Feuerstein in Central Islip to grant him a sentence below a range of 87 to 108 months, taking into consideration his perfect record in prison, his time served while awaiting trial and his "sincere" remorse.

His attorney, Jennifer Colyer, also asked that he receive credit for time served in 2006 and argued that prosecutors had delayed the case for an inordinate amount of time.

Schwamborn, who has been held in jail without bail, pleaded guilty last year to selling $2.1 million of worthless stock. He previously served 55 months in prison for money laundering and racketeering in a case related to the Genovese crime family, federal officials have said.

Tuesday, Schwamborn said he was committed to leaving that life behind.

"I am going to do this with the sole intent of leaving behind a different legacy than I had in the past," he said.

He vowed to embrace whatever sentence he received, but told the judge that his family is under tremendous emotional and financial stress because of his legal problems. They cannot survive another five years without him, he said.

But Feuerstein handed him an 11-year prison sentence with five years of supervised release. She also ordered him to undergo drug treatment and banned him from associating with any crime group. A hearing will be held at a later date to determine the restitution he must pay to the victims.