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COVID-19: NY Doctor Sentenced For Using $3M In Fraudulently Obtained Loans On Luxury Items COVID-19: NY Doctor Sentenced For Using $3M In Fraudulently Obtained Loans On Luxury Items
Covid-19: NY Doctor Sentenced For Using $3M In Fraudulently Obtained Loans On Luxury Items A New York doctor will spend time behind bars after being sentenced for spending millions of dollars obtained through fraudulently obtained small business loans during the pandemic in an effort to live a luxury lifestyle. Long Island resident Konstantinos Zarkadas, who had a Nassau County practice in Glen Cove, was sentenced in federal court to 51 months in prison for fraudulently obtaining millions of dollars in COVID-19 emergency relief funds. In addition to his prison term, Zarkadas was also ordered to pay approximately $3.5 million in restitution after pleading guilty in November 2021 t…

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by Zak Failla
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Ex-Long Island Investment Advisor Sentenced For Multi-Million Dollar Ponzi Scheme Ex-Long Island Investment Advisor Sentenced For Multi-Million Dollar Ponzi Scheme
Ex-Long Island Investment Advisor Sentenced For Multi-Million Dollar Ponzi Scheme An investment advisor from Long Island will spend more than a decade behind bars for his role in defrauding his elderly victims in a multimillion-dollar scheme, U.S. Attorney Richard Donoghue announced. East Setauket resident Steven Pagartanis, 60, was sentenced to a term of 170 months in prison and ordered to pay more than $6.5 million in restitution after pleading guilty in December to conspiracy to commit mail and wire fraud for orchestrating a securities fraud scheme over the course of 18 years.   “Today’s sentence is a well-deserved reckoning for Pagartanis, who preyed on el…

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by Zak Failla
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Ex-Senior Manager From Long Island Admits To $6M Wire Fraud Ex-Senior Manager From Long Island Admits To $6M Wire Fraud
Ex-Senior Manager From Long Island Admits To $6M Wire Fraud A Long Island man who previously served as a senior manager at a Manhattan global Internet company admitted to running a shell company and defrauding his employer as part of a multi-million-dollar scheme. Floral Park resident Hicham Kabbaj, 48, pleaded guilty to wire fraud for defrauding his former employer from August 2015 through May last year, U.S. Attorney Geoffrey Berman announced. When he is sentenced, Kabbaj will face up to 20 years in prison. As part of his guilty plea, he agreed to forfeit homes in Palm Beach Gardens, Florida and Hewitt, New Jersey. He will also pay $6,051,453 in r…

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by Zak Failla