Angelo Alleca, the former CEO of Atlanta-based Summit Wealth Management, has been ordered to pay back millions to investors and spend eight years in federal prison. But it appears things could have been worse for him without a strong defense—from the lawyer nominated to be Atlanta’s next federal prosecutor.
U.S. District Court Judge Leigh Martin May sentenced Alleca, 47, of Buffalo, New York, to eight years in federal prison and three years of supervised release, U.S. Attorney John Horn of the Northern District of Georgia announced Friday. May also ordered Alleca to pay $24.38 million in restitution. Alleca had already pleaded guilty to one count of conspiracy to commit wire and mail fraud and one count of conspiracy to commit wire fraud.
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