James Nicholson (American businessman)

James Michael Nicholson (born 1966) was an American businessman and was the head of the investment firm Westgate Capital Management. The headquarters of Westgate Capital was located in Pearl River, NY. Nicholson was arrested on February 25, 2009 by the FBIand charged by the SEC for allegedly "defraud[ing] hundreds of investors of millions of dollars". Nicholson was indicted by the US Attorney for the Southern District of New York, on April 23, 2009, and was sentenced to 40 years in prison after pleading guilty to defrauding investors in the Ponzi scheme. Nicholson is serving his sentence at the Federal Correctional Institution (FCI) Ray Brook, a medium security facility for male offenders located in Upstate New York, midway between the villages of Lake Placid and Saranac Lake.