47°
Tommy Constantine, 54, of Scottsdale, Arizona, was sentenced on Tuesday, Nov. 10, for stealing millions of dollars raised from Long Island residents and professional athletes that were intended for investment in land developments in Hawaii and a start-up credit card business based in Arizona, among other purposes, said Seth D. DuCharme, Acting U.S. Attorney for the Eastern District of New York.
Constantine and co-conspirator Phillip Kenner, also of Arizona, were convicted at trial in July 2015. Constantine was convicted of:
- Conspiracy to commit wire fraud
- Five substantive counts of wire fraud
- Conspiracy to commit money laundering.
He was also ordered to a forfeiture money judgment in the amount of $8.5 million and ordered to forfeit specific assets, including an oceanfront resort in Mexico, real property in Hawaii, and a Falcon 10 jet airplane, and ordered restitution in the amount of $5.2 million.
As early as 2004, Constantine and Kenner siphoned millions of investor dollars into a labyrinth of holding companies, diverting those dollars from their approved uses into companies, real estate, and other ventures – such as Constantine’s car racing endeavors.
Constantine gained access to these investor funds via his relationship with Kenner. Kenner was a collegiate hockey player in upstate New York, and his teammate, Joe Juneau, a future Olympian, and National Hockey League star, introduced Kenner to a number of other NHL players in the 1990’s as Kenner began his career as a Boston-based financial advisor.
Through those early contacts, Kenner developed a roster of clients, including former New York Islander Michael Peca; former New York Islander and New York Ranger Brian Berard; Darryl Sydor and Bill Ranford, both two-time Stanley Cup champions; and other NHL players whose careers and playing earnings blossomed just as they placed more and more trust in Kenner to invest and manage their finances and wealth. Instead, Kenner and Constantine diverted these earnings for their own uses.
Kenner was sentenced to 17 years imprisonment.
Click here to follow Daily Voice Nassau and receive free news updates.
