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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…
New Whole Foods Location, More Planned For Long Island
Popular organic supermarket Whole Foods has a new location coming to Long Island, alongside many more stores planned in a new shopping center.
The SunVet Mall, located at 5801 Sunrise Highway in Holbrook, which some Yelp reviewers deemed “a dead mall,” is getting a major facelift.
Plans are underway for a shiny new shopping center, now dubbed The Shops at SunVet, with development scheduled to finish in 2025, according to developer Regency Centers.
The SunVet Mall was originally built in 1973, but in recent years has seen numerous stores shut down, leaving a ghostly abandoned atmosphere a…
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, …
