Tag:

Ponzi Scheme

NY Man Who 'Lived Large' Off $1 Million Ponzi Scheme Sentenced NY Man Who 'Lived Large' Off $1 Million Ponzi Scheme Sentenced
NY Man Who 'Lived Large' Off $1 Million Ponzi Scheme Sentenced A former New York investment broker has received a lengthy stay in prison for running a million-dollar Ponzi scheme. Long Island resident Rand Heckler, age 67, of Glen Cove, was sentenced to up to seven-and-a-half years in prison on Wednesday, May 15, the Nassau County District Attorney (NCDA) announced. Heckler was an investment broker in 2015 when he began his scheme, recommending that his friend and his friend’s son that they invest in a hedge fund of stocks and securities that Heckler was managing. Original Story - $1 Million Ponzi Scheme: Glen Cove Investment Broker Pleads …
Westchester Man, Partner Sentenced For Roles In $1M Ponzi Scheme Westchester Man, Partner Sentenced For Roles In $1M Ponzi Scheme
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 …
Bernie Madoff Ponzi Scheme Victims To Get $372M More In Distributions, Feds Announce Bernie Madoff Ponzi Scheme Victims To Get $372M More In Distributions, Feds Announce
Bernie Madoff Ponzi Scheme Victims To Get $372M More In Distributions, Feds Announce Thousands of Bernie Madoff’s Ponzi scheme victims will be receiving their portions of the latest distribution of more than $370 million. US Attorney for the Southern District of New York Damian Williams announced that the Madoff Victim Fund will be distributing approximately $372 million to 40,000 victims worldwide who were involved in the fraud scheme. Earlier Report: Madoff Ponzi Scheme Victims To Get Nearly $500M More In Distributions To date, approximately $4 billion has been distributed to Madoff’s victims. Williams said that this eighth payment will bring the victims’ total re…
Decomposed Body Found In Connecticut Home ID'd As Ponzi Swindler, Jeffrey Epstein Mentor Decomposed Body Found In Connecticut Home ID'd As Ponzi Swindler, Jeffrey Epstein Mentor
Decomposed Body Found In Connecticut Home ID'd As Ponzi Swindler, Jeffrey Epstein Mentor A body found in a Connecticut home during a welfare check has positively been identified as Steven Hoffenberg, a longtime mentor of Jeffrey Epstein. Hoffenberg, the one-time owner of the New York Post and businessman who spent 18 years in prison for a $460 million Ponzi scheme, was found in the New Haven County home around 8 p.m. on Tuesday, Aug. 23, in the city of Derby. According to the Derby Police, the medical examiner's office confirmed on Friday, Aug. 26, that the badly decomposed body was that of Hoffenberg.  An initial autopsy did not find signs of trauma on the body, the…
NY Man Sentenced For Role In $12M Ponzi Scheme Targeting Nearly 50 Victims NY Man Sentenced For Role In $12M Ponzi Scheme Targeting Nearly 50 Victims
NY Man Sentenced For Role In $12M Ponzi Scheme Targeting Nearly 50 Victims A New York man was sentenced for his role in a $12 million Ponzi scheme that targeted nearly 50 victims from throughout the region and the nation between 2015 and 2017. Long Island resident Matthew Eckstein, age 52, of Syosset, was sentenced on Monday, July 11 to three-and-a-half to 10-and-a-half years in prison. Eckstein originally pleaded guilty to the charges on September 26, 2019, but later withdrew his plea. A new indictment was secured in August 2020, but court closures related to the COVID-19 pandemic further delayed the case. “This defendant preyed upon seniors and hard-working men…
Hudson Valley Man Sentenced For Ponzi-Like Fraud Scheme Hudson Valley Man Sentenced For Ponzi-Like Fraud Scheme
Hudson Valley Man Sentenced For Ponzi-Like Fraud Scheme A Hudson Valley man will spend years behind bars after being busted for operating a multi-million dollar investment club that was actually a Ponzi scheme targeting a Haitian community, federal authorities announced. Rockland County resident Ruless Pierre, age 52, of Nanuet, has been sentenced to 84 months in prison in connection to a Ponzi-like securities fraud scheme that targeted his own community in the region. Specifically, Pierre was convicted of securities fraud, wire fraud, and structuring offenses by a jury in May 2021. US Attorney Damian Williams said that between 2016 and 2019, P…
Hudson Valley Man Convicted For Running Multimillion-Dollar Ponzi, Embezzlement Schemes Hudson Valley Man Convicted For Running Multimillion-Dollar Ponzi, Embezzlement Schemes
Hudson Valley Man Convicted For Running Multimillion-Dollar Ponzi, Embezzlement Schemes A Hudson Valley man has been convicted for operating a multimillion-dollar investment club that was actually a Ponzi scheme. Rockland County resident Ruless Pierre, age 51, of Nanuet, was convicted in Manhattan federal court of securities fraud, wire fraud, and structuring charges on Thursday, May 27. According to the allegations contained in the complaint, indictment, and the evidence presented at trial: From at least November 2016 through October 2019, Pierre solicited money from investors of Ruless Pierre Consulting Group by falsely promising them that he would earn a 20 percent return…
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, …
Westchester Man Arrested For Role In Decade-Long $1M Ponzi Scheme Westchester Man Arrested For Role In Decade-Long $1M Ponzi Scheme
Westchester Man Arrested For Role In Decade-Long $1M Ponzi Scheme A Westchester County man was arrested this week for his role in a near decade-long Ponzi scheme that defrauded investors in New York and other parts of the country out of more than $1 million. White Plains resident James Doyle, 72, and Carl Carro, 59, of Walton, Delaware, the purported managing directors of headhunting companies Endeavor Management Solutions and Endeavor Consultancy, have been charged in a 42-count indictment for their roles in the schema. Specifically, the two were charged with multiple counts of money laundering, grand larceny, securities fraud, and scheme to defraud. Ne…
NY Man Admits To Running $200M Ponzi Scheme In Region NY Man Admits To Running $200M Ponzi Scheme In Region
NY Man Admits To Running $200M Ponzi Scheme In Region A 53-year-old man has admitted to running a $200 million Ponzi scheme in New York based on false statements to investors about inflated returns for nonexistent wholesale jewelry deals, federal authorities announced on Wednesday, Dec. 30. Long Island resident Gregory Altieri, 53, pleaded guilty to wire fraud for running the scheme.  As part of the plea, Altieri, of Melville in Suffolk County, also admitted to committing securities fraud in connection with the scheme.  When sentenced, Altieri faces up to 20 years in prison.  “With today’s guilty plea, Altieri is hel…
Madoff Ponzi Scheme Victims To Get Nearly $500M More In Distributions Madoff Ponzi Scheme Victims To Get Nearly $500M More In Distributions
Madoff Ponzi Scheme Victims To Get Nearly $500M More In Distributions Thousands of Bernie Madoff’s Ponzi Scheme victims will be receiving their portions of the latest distribution of nearly $500 million. Acting U.S. Attorney for the Southern District of New York Audrey Strauss announced that the Madoff Victim Fund will be distributing approximately $488 million to more than 37,000 of his victims involved in the fraud scheme. To date, approximately $2.7 billion has been distributed to Madoff’s victims. Strauss said that this sixth payment will bring the victims’ total recovery to 80.05 percent of their losses. Ultimately, more than $4 billion will be returne…
Westchester Native Craig Carton Returns To WFAN After Serving Time In Prison For Ponzi Scheme Westchester Native Craig Carton Returns To WFAN After Serving Time In Prison For Ponzi Scheme
Westchester Native Craig Carton Returns To Wfan After Serving Time In Prison For Ponzi Scheme Westchester native Craig Carton is back in the WFAN booth more than three years after he was last on the air following a conviction for operating a Ponzi scheme. Carton, who grew up in New Rochelle, was ordered to spend 42 months in prison last April, three years of supervised release, ordered to pay $4,835,186.56 in restitution, and to forfeit $4,590,000 for running a Ponzi scheme that purportedly covered his gambling debts. On Thursday, Oct. 29, after 1,150 days off the air, Carton was back on WFAN in the afternoon drive, making a solo guest spot during the last hour on what will be his f…
New Distribution Of More Than $378M Allotted To Madoff Ponzi Scheme Victims New Distribution Of More Than $378M Allotted To Madoff Ponzi Scheme Victims
New Distribution Of More Than $378M Allotted To Madoff Ponzi Scheme Victims Thousands of Bernie Madoff’s Ponzi Scheme victims will be receiving their portions of the fifth distribution of more than $378 million this week. U.S. Attorney Geoffrey Berman announced that the Madoff Victim Fund will be distributing $378.5 million to more than 26,000 of his victims involved in the fraud scheme. To date, approximately $2.7 billion has been distributed to Madoff’s victims. Berman said that the fifth payment will bring the victims’ total recovery to 73.65 percent of their losses.  Ultimately, more than $4 billion will be returned due to losses suffered in Madoff’s Ponz…