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Investment Scams

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Barred Glen Cove Investment Broker Indicted for $520K Stock Fraud: DA Barred Glen Cove Investment Broker Indicted for $520K Stock Fraud: DA
Barred Glen Cove Investment Broker Indicted for $520K Stock Fraud: DA A barred investment broker has been indicted on charges he stole $520,000 from six investors who believed they were investing in stocks for several high-profile companies. Long Island resident Peter Quartararo, age 57, of Glen Cove, was arraigned Thursday, March 9 on charges of grand larceny, said Nassau County District Attorney Anne Donnelly. “This defendant allegedly tricked investors into believing they were getting in on the ground floor of high-profile companies that were going public," Donnelly said. During the "scheme" which began in July 2018 and continued through January 2021, Qua…

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by Kathy Reakes
Police & Fire
Long Island Man Accused Of Scamming Investors Out Of $60K Long Island Man Accused Of Scamming Investors Out Of $60K
Long Island Man Accused Of Scamming Investors Out Of $60K A Long Island man has been accused of scamming investors out of more than $60,000, police said. The arrest was made on Main Street in Patchogue . on Wednesday, Nov. 27 at approximately 5 p.m., according to Suffolk County Police, The man, Rocky Point resident Matthew Gallagher, allegedly collected the money from three victims between December, 2018 and March, 2019, telling them they were investing in a legal marijuana farm in California, police said. Victims were promised a high return on their investment in the farm, which detectives have determined does not exist,…

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by Joe Lombardi