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64°
Saturday, may 25
Tag:
Fraud Against the Elderly
News
Ex
-ceo
From Long Island Admits Scheme To Defraud Victims In Sale Of Worthless Stock
A former CEO from Long Island admitted to his role in a scheme to defraud the elderly victims in the sale of worthless stock. Dix Hills resident Keith Orlean - also known as “Jack Allen” - pleaded guilty in district court to participating in a scheme to target elderly persons to solicit purchases of stock in a series of valueless companies through a variety of lies and misrepresentations. U.S. Attorney Geoffrey Berman said that for several years, Orlean and his co-conspirators operated a fraudulent scheme in which a salesman named “Mike Palmer” would call elderly people and offer them a “ti…