PHOENIX — The former owners of an Arizona software company have each been sentenced to serve five years and 10 months in federal prison related to a lengthy scheme that defrauded investors out of $5 million.
Michael Feinberg, 73, and Betsy Feinberg, 80, a married couple from Tucson, were sentenced by U.S. District Judge James Soto on Nov. 15. Upon release, they would be subject to three years of supervised release.
After a seven-day jury trial that ended in April, the Feinbergs were found guilty of multiple counts of securities and wire fraud.
The charges included one count of conspiracy to commit securities fraud, one count of conspiracy to commit wire fraud, and five counts of securities fraud.
Court documents show that the Feinbergs operated Catharon Software Corp. that was related to a similar business the couple started when they lived in New York before relocating to Arizona. Documents show they operated the business out of a home in Sedona from 2002-2013.
