Eric Bloom, former chief executive officer, and Charles Mosley, former head trader, were both sentenced to long terms in prison for their roles in the 2007 collapse of Sentinel Asset Management Group, Inc., and for defrauding customers of more than US $665 million. Sentinel was an investment management firm registered with the Commodity Futures Trading Commission as a futures commission merchant that claimed it specialized in short-term cash management for hedge funds, individuals, financial institutions and FCMs. The firm filed for bankruptcy in August 2007 after it unlawfully commingled US $460 million of client securities into its house account, and used client collateral to obtain a US $321 million line of credit from Bank of New York. The loans were used, at least in part, to purchase illiquid securities for a trading portfolio maintained for Sentinel’s officers, including Mr. Bloom, and members of Mr. Bloom’s family and corporations controlled by Mr. Bloom’s family. For his role, Mr. Bloom received a prison term of 14 years which he will begin serving on April 30, 2015. Mr. Mosley received a term of eight years that he will begin on July 29. Both defendants were also ordered to pay restitution of US $665 million.