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Half-Million Dollar Scheme: Glen Cove Broker Admits Swindling Clients Half-Million Dollar Scheme: Glen Cove Broker Admits Swindling Clients
Half-Million Dollar Scheme: Glen Cove Broker Admits Swindling Clients A barred investment broker from Long Island has been admitted to tricking clients into giving him hundreds of thousands of dollars, which he then used to buy luxury cars, plane tickets, and more. Peter Quartararo, age 57 of Glen Cove, pleaded guilty to his charges of grand larceny and more on Friday, Feb. 9, the Nassau County District Attorney announced. According to the charges against him, Quartararo met with six victims from July 2018 through January 2021 and told them he had access to pre-initial public offering stock (or “pre-IPO”) in companies such as Peloton, WeWork, PetCo, and Ai…

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by Sophie Grieser
Business
‘Immediately Stop Using': 2.2 Million Exercise Bikes Recalled After Injuries Reported ‘Immediately Stop Using': 2.2 Million Exercise Bikes Recalled After Injuries Reported
‘Immediately Stop Using': 2.2 Million Exercise Bikes Recalled After Injuries Reported A recall has been issued for 2.2 million exercise bikes until they can be repaired following multiple reports of injuries. The seat post assembly of the Peloton Bike Model PL01 can break during use, posing fall and injury hazards to the user, the Consumer Product Safety Commission (CPSC) said. Consumers should immediately stop using the recalled bikes and contact Peloton for a free repair. Peloton is offering consumers a free seat post that can be self-installed. The bike measures 4 feet long, and 2 feet wide, and has an adjustable seat, handlebar, and screen, which tilts up…

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by Joe Lombardi
News
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
Business
Peloton Announces Plans To Let Go Of 112 Employees In Nassau County Peloton Announces Plans To Let Go Of 112 Employees In Nassau County
Peloton Announces Plans To Let Go Of 112 Employees In Nassau County Peloton has announced plans to shut down some of its facilities and lay off thousands of employees, including some workers in the region. On Tuesday, Feb. 8, the exercise equipment company announced plans to restructure and let go of a total of 2,800 employees globally. CEO John Foley also announced plans to step down. As part of the restructuring, the facility located in the Westchester County city of Mount Vernon will shut down, causing 75 employees to lose their jobs, according to a Worker Adjustment and Retraining Notification Act (WARN) notice posted on Feb. 8. The facility is located…

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by Nicole Valinote
News
Barred Nassau County Investment Broker Accused Of Stealing $80K, DA Says Barred Nassau County Investment Broker Accused Of Stealing $80K, DA Says
Barred Nassau County Investment Broker Accused Of Stealing $80K, DA Says A Long Island man was arraigned after he was accused of stealing more than $80,000 from people who believed they were investing in shares of Petco, DoorDash, and Airbnb. Peter Quartararo, age 56, of Glen Cove, was arraigned on Tuesday, Aug. 31, and charged with second-degree and third-degree grand larceny, according to Acting Nassau County District Attorney Joyce Smith. He is set to appear in court again on Wednesday, Oct. 20. In August of last year, Quartararo allegedly introduced himself to the first victim, claiming to possess pre-initial public offering shares of DoorDash and offe…

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by Nicole Valinote
News
Peloton Recalls Treadmills After 72 Injuries, 1 Child Death Reported Peloton Recalls Treadmills After 72 Injuries, 1 Child Death Reported
Peloton Recalls Treadmills After 72 Injuries, 1 Child Death Reported Peloton recalled all of its treadmill machines Wednesday. The popular exercise equipment company issued an apology for not acting faster on reports of nearly 72 injuries and the death of a 6-year-old child, who was pulled under the rear of a treadmill. Of the 72 injuries, 29 were to children such as second- and third-degree abrasions, broken bones, and lacerations, according to the Consumer Product Safety Commission. Peloton CEO John Foley called the decision to recall both the Tread+ and Peloton Tread the "right thing to do." "I want to be clear... We should have engaged more p…

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by Cecilia Levine
News
Nassau Broker, Business Partner Charged For Alleged $436K Fraud Scheme Nassau Broker, Business Partner Charged For Alleged $436K Fraud Scheme
Nassau Broker, Business Partner Charged For Alleged $436K Fraud Scheme A barred investment broker from Long Island and his business partner are facing charges for allegedly stealing hundreds of thousands of dollars from investors who thought they were getting in on the ground floor of major upcoming companies. Glen Cove resident Peter Quartararo, the barred broker, and his partner, Paul Casella, of East Meadow, were arraigned on Tuesday, April 27 for allegedly stealing $436,000 from four investors to live a life of luxury, the District Attorney's Office announced. Nassau County District Attorney Madeline Singas said that the investors believed they were invest…

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by Zak Failla
News
Feds Issue Urgent Warning On Popular Home Exercise Device Feds Issue Urgent Warning On Popular Home Exercise Device
Feds Issue Urgent Warning On Popular Home Exercise Device Reports of children and pets getting trapped under a popular home exercise device have prompted an urgent warning from a federal agency. The Consumer Product Safety Commission issued the alert about the danger of the popular, 450-pound Peloton Tread+ exercise machine following what it said were "multiple incidents," including one death. Of the 39 total incidents, 24 involved children, with the one fatality a child. The commission said that "public health and safety requires this notice to warn the public quickly of the hazard." The urgent warning comes less than a month after Peloton itse…

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by Joe Lombardi