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Chicago Sun-Times
Chicago Sun-Times
National
Frank Main

Sean Grusd, portrayed as a junior Bernie Madoff, could face 6 years for $23 million Chicago scam

Sean Grusd leaving federal court in Chicago last month. (David Struett / Sun-Times)

Sean Grusd lived in a $5.4 million penthouse, filled with expensive art and furniture, atop a luxury condo building in the West Loop, and he got a Tesla and a Porsche, federal prosecutors say.

But they say the dazzling façade hid a web of deception — a $23.1 million scam targeting Chicago investors. Last week, the 31-year-old Los Angeles native pleaded guilty to fraud. Now, he faces a possible prison term of 78 to 97 months, according to federal sentencing guidelines.

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