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Investment Scams

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$520,000 Stock Fraud Scheme Leads To Indictment For Barred NY Investment Broker: DA $520,000 Stock Fraud Scheme Leads To Indictment For Barred NY Investment Broker: DA
$520,000 Stock Fraud Scheme Leads To Indictment For Barred NY Investment Broker: 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
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Westchester Man Admits To Posing As Investor, Scamming More Than $190K, Fleeing To Spain Westchester Man Admits To Posing As Investor, Scamming More Than $190K, Fleeing To Spain
Westchester Man Admits To Posing As Investor, Scamming More Than $190K, Fleeing To Spain A 47-year-old Westchester man who fled to Spain to avoid prosecution has admitted to swindling a trio of Westchester victims out of their life savings. Yonkers resident John Nemec pleaded guilty on Thursday to three counts of grand larceny for “conspiring and engaging in a fraudulent investment scheme to steal more than $190,000 from his victims.” According to the indictment, Nemec schemed to gain his victims’ trust and proceeded to steal money from them by claiming that he had left “a short-lived employment as a police officer years ago to become a financial success in both the film indust…

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by Zak Failla