A Manhattan judge yesterday sentenced a Ponzi schemer to four to 12 years in prison after the crook reneged on an agreement to pay $1.1 million restitution to the people he defrauded out of nearly $2 million.
Although Steven Bingaman, 57, of Westchester had 11 months to pony up the cash in exchange for a more lenient sentence, he hadn’t raised one cent until, in a last-ditch effort, he had his mother wire $100,000 yesterday, according to his defense lawyer.
“He didn’t do what he was supposed to do. It doesn’t seem like it was a good-faith effort,” said Manhattan Supreme Court Judge Charles Solomon.
A haggard Bingaman mouthed, “I love you,” to his wife as he was led out of the courtroom in cuffs.
The Princeton grad would have faced only two to six years if he had kept his restitution promise.
Bingaman was also supposed to sell his fancy home in Bedford — partially paid for by the 14 to 18 pals he defrauded — but inexplicably took it off the market in February.
Several victims read statements in court Friday about how the theft had devastated their lives.