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A former Chicago investment manager was sentenced to 33 months in prison Wednesday for stealing more than $1.8 million from clients from 2000 to 2002 to pay personal and business expenses.
John M. Lofgren, 67, formerly of Kenilworth, pleaded guilty in June to fraud-related charges in U.S. District Court in Chicago.
Assistant U.S. Atty. Brian Hayes said Lofgren has paid restitution of about $1.7 million to victims as part of a civil lawsuit.
Lofgren, who traded commodity futures and options as head of Melrose Asset Management Corp., admitted forging the signatures of clients to make it appear they had authorized withdrawals from their accounts.
