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Boiler Room Schemes

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Former Broker Sentenced In LI 'Boiler Room' Fraud Scheme That Cost Elderly Victims Millions Former Broker Sentenced In LI 'Boiler Room' Fraud Scheme That Cost Elderly Victims Millions
Former Broker Sentenced In LI 'Boiler Room' Fraud Scheme That Cost Elderly Victims Millions A former stockbroker is heading to federal prison for his role in a massive fraud scheme based on Long Island that swindled elderly victims out of millions of dollars. Jeffrey Chartier, age 59, of Florida, was sentenced to 10 years behind bars in federal court in Central Islip Thursday, Dec. 1. It followed his March 2020 jury conviction on multiple charges, including conspiracy to commit securities fraud, conspiracy to commit wire fraud, and money laundering. Federal prosecutors said between 2014 and 2016, Chartier and others worked with a Melville-based “boiler room” to artificially infla…

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by Michael Mashburn