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NY Man Accused Of Scamming Investors Of Over $700K

A New York man has been accused of scamming investors of more than $700,000 over the past year and a half.
A New York man has been accused of scamming investors of more than $700,000 over the past year and a half. Photo Credit: Pixabay/Maklay62

A New York man has been accused of scamming investors of more than $700,000 over the past year and a half, authorities announced.

Long Island resident Matthew Gallagher, age 37, of Rocky Point, used investment schemes in fraudulent startup business ventures and insurance-related frauds to scam 16 victims between November 2019 and April 2021, according to an investigation by Suffolk County Police.

Gallagher was arrested just before 10 p.m. Wednesday, April 28 at the Seventh Precinct in Shirley, according to police.

He was charged with:

  • Two counts of first-degree scheming to defraud, 
  • Six counts of second-degree grand larceny,
  • Eight counts of third-degree grand larceny,
  • Four counts of first-degree identity theft,
  • Six counts of issuing a bad check, 
  • One count of third-degree attempted grand larceny.

Gallagher was held at the Seventh Precinct and is scheduled to be arraigned on Thursday, April 29.

The investigation is continuing. 

Anyone who has additional information or who believes they may have been a victim is asked to call Suffolk County PD detectives at 631-852-8752.

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