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$1B Scheme: Pair Of CEOs, Including Manhasset Man, Defrauded 10K Investors, Jury Finds
A New York resident was one of two CEOs convicted in federal court of a $1 billion fraud scheme involving thousands of investors.
Long Island resident David Gentile, age 57, of Manhasset, and Jeffry Schneider, age 55, of Austin, Texas, were found guilty in federal court on all counts of an indictment charging them with conspiracy to commit securities fraud, conspiracy to commit wire fraud, and securities fraud.
Gentile, the owner and CEO of GPB Capital Holdings, was also convicted on two counts of wire fraud.
The verdict came after an eight-week trial.
When sentenced on Thursd…
$2M Scheme: 3 NYers Among 4 Nabbed For Defrauding Company, Feds Say
Four men have been accused of creating hundreds of fictitious brokerage accounts in defrauding a financial services company of more than $2 million.
They have pleaded guilty in federal court in Central Islip to money laundering conspiracy in connection with the scheme involving the global financial services firm based in Menlo Park, California, which is located near San Francisco.
Three of the four are Long Island residents:
Edward Hernandez, also known as “Ghost,” age 33, of Lindenhurst;
Christopher Flagg, also known as “Venus," age 28, of Copiague;
Daquan Lloyd, also…
$185M Scheme: NY Trio Nabbed For Defrauding 1,400 Investors, Feds Say
Three New York men have been charged in connection with a $185 million fraud scheme involving over a thousand investors, federal authorities announced.
The three are Long Island resident Mario Gogliormella, age 47, of Manhasset; and New York City residents Steven Lacaj, age 27, of Manhattan, and Karim Ibrahim, age 34, of Queens, also known as “Chris Hayes."
“By allegedly raising approximately $185 million from over 1,400 investors, Mario Gogliormella, Steven Lacaj, and Karim Ibrahim left a trail of shattered trust and financial ruin," US Attorney for the Southern Distric…
NY Personal Pilot To Billionaire Investor Admits Role In Insider Trading Scheme
A private pilot from New York has admitted to taking part in an insider trading scheme involving his billionaire boss.
Albany County resident Patrick O’Connor, age 67, of Preston-Potter Hollow, pleaded guilty to securities fraud in Albany federal court on Monday, Feb. 26.
O’Connor worked as a personal pilot to billionaire Joseph Lewis, a British businessman and investor who is the principal owner of the Tavistock Group, an international private investment organization.
According to prosecutors, Lewis, age 87, was regularly given material, non-public information about various companies for …
$30M Insider Trading Case: Hudson Valley Duo Profited From Pharmaceutical Merger Info, Feds Say
Four men from New York and Massachusetts, including a police chief, are accused of making millions of dollars through an insider trading scheme involving one pharmaceutical company’s acquisition of another.
The case, announced by the US Attorney’s Office in the Southern District of New York on Thursday, June 29, is one of four separate insider trading cases that reportedly generated a combined $30 million for those involved.
Named in the case are:
Shawn Cronin, age 43, of Dighton in Bristol County, Massachusetts and chief of the Dighton Police Department
Joseph Dupont, age 44, of Rehoboth…
Westchester Man, Partner Sentenced For Roles In $1M Ponzi Scheme
A Westchester County man and his business partner have been sentenced for their roles in a nearly decade-long $1-million Ponzi scheme.
White Plains resident James Doyle, age 74, and Carl Carro, age 61, of Walton, Delaware, were convicted of defrauding investors in New York and throughout the nation.
On Thursday, Jan. 12, Carro was sentenced to four to eight years in prison, and Doyle was sentenced to five years probation, New York Attorney General Letitia James announced.
As part of their respective sentences, Carro and Doyle agreed to pay a total of more than $1 million in judgments …
