ALBANY, N.Y. (Legal Newsline) – New York Attorney General Eric T. Schneiderman obtained a judgment on Friday against the CEO of CandelTronics Corporation, a Rochester-based electronics company, for allegedly defrauding investors.
CEO Salvatore Candeloro allegedly made repeated misrepresentations and omissions to promote the sale of securities to local investors. The judgment, issued by Monroe County Supreme Court Justice J. Scott Odorisi, requires Candeloro to pay $365,000 in restitution to investors and $35,000 in penalty charges.
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