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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…

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by Zak Failla
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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…

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by Joe Lombardi
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Area Man Charged With Running Multimillion-Dollar Ponzi, Embezzlement Schemes Area Man Charged With Running Multimillion-Dollar Ponzi, Embezzlement Schemes
Area Man Charged With Running Multimillion-Dollar Ponzi, Embezzlement Schemes The Securities and Exchange Commission has filed charges against a Hudson Valley investment adviser who allegedly operated a multimillion-dollar investment club that was actually a Ponzi scheme targeting the Haitian community. Nanuet resident Ruless Pierre, 50, was charged with securities fraud, wire fraud and structuring charges by the SEC in an indictment unsealed in Manhattan federal court this week after he was involved in a pair of fraud schemes. The SEC's complaint alleges that Pierre ran an investment club called the Amongst Friends Investment Group in Nanuet that operated as a frau…

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by Zak Failla