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Owner, CEO Of Manhattan Investment Fund Among Trio Indicted For $1.8B Ponzi-Like Scheme Owner, CEO Of Manhattan Investment Fund Among Trio Indicted For $1.8B Ponzi-Like Scheme
Owner, CEO Of Manhattan Investment Fund Among Trio Indicted For $1.8B Ponzi-Like Scheme A man who was the head of a Manhattan investment fund was arrested on Thursday and is facing securities fraud charges for his role in an alleged $1.8 billion Ponzi-like scheme that saw his company paying clients with their own money.  Long Island resident David Gentile, age 54, of Manhasset, the founder, owner, and CEO of GPB Capital Holdings, was charged with two others for scheming to defraud investors by misrepresenting the source of funds used to make monthly distribution payments to them, federal officials said. Specifically, the three were charged with securities and wire fraud, …

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by Zak Failla
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Metro Area Jewelry Wholesaler Indicted For $200 Million Ponzi Scheme Metro Area Jewelry Wholesaler Indicted For $200 Million Ponzi Scheme
Metro Area Jewelry Wholesaler Indicted For $200 Million Ponzi Scheme A jewelry wholesaler from Long Island is facing charges for allegedly operating a $200 million Ponzi Scheme in New York. Long Island resident Gregory Altieri, of Melville in Suffolk County, the president of LNA Associates, was indicted for allegedly operating a two-year $200 million scheme based on nonexistent wholesale jewelry deals and false promises of inflated returns, federal officials said. It is alleged that beginning in August 2017, Altieri solicited between $75 million to $85 million from more than 80 investors in Queens, Staten Island, Long Island, and elsewhere, to allegedly purc…

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by Zak Failla