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Tag: Financial Industry Regulatory Authority
$185M Scheme: NY Trio Nabbed For Defrauding 1,400 Investors, Feds Say
Three New York men have been charged in connection with a $185 million fraud scheme involving over a thousand investors, federal authorities announced.
The three are Long Island resident Mario Gogliormella, age 47, of Manhasset; and New York City residents Steven Lacaj, age 27, of Manhattan, and Karim Ibrahim, age 34, of Queens, also known as “Chris Hayes."
“By allegedly raising approximately $185 million from over 1,400 investors, Mario Gogliormella, Steven Lacaj, and Karim Ibrahim left a trail of shattered trust and financial ruin," US Attorney for the Southern Distric…
CT Financial Advisor, Securities Broker Admits Misappropriating Client Funds
A Connecticut financial advisor and securities broker admitted to misappropriating $575,000 from investment clients during a seven-year scheme.
Lester Burroughs, 60, of Torrington, pleaded guilty on Wednesday, Dec. 4 in Bridgeport district court to one count of wire fraud while he was the owner of Burroughs Financial Group in Torrington.
Between 2012 and November this year, Burroughs, who was a registered securities broker with the Financial Industry Regulatory Authority misrepresented to clients that their money would be invested in legitimate, guaranteed investment contracts.
Instead, Bu…
