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Apostolos Pitsironis, age 52, of Dix Hills, a former registered investment advisor, and broker, was arrested on Wednesday, Feb. 10 in Dix Hills, said Seth D. DuCharme, Acting U.S. Attorney for the Eastern District of New York.
In approximately 2009, Pitsironis, who worked in the Melville office of a financial services firm, began managing the investments of a married couple who lived on Long Island, the U.S. Attorney's Office said.
Between May 2, 2019, and June 11, 2019, Pitsironis initiated 22 transfers totaling approximately $411,000 from one of the victims’ investment accounts to a bank account in the defendant’s own name at another financial institution, officials said.
Pitsironis falsely told the financial firm that one of the victims owned the bank account receiving the funds and had authorized the transfer of funds to that account.
Pitsironis then transferred the stolen funds to other bank accounts that he controlled and used the stolen money to pay for his family’s personal expenses, including casino gambling debts, credit card bills, and the lease for a luxury car, the U.S. Attorney's Office said.
If convicted, Pitsironis faces up to 20 years in prison.
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