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Long Island Couple In $1 Million Securities Scam Targeting Investors, Authorities Say Long Island Couple In $1 Million Securities Scam Targeting Investors, Authorities Say
Long Island Couple In $1 Million Securities Scam Targeting Investors, Authorities Say Several New Jersey seniors were scammed out of more than $1 million combined by a Long Island couple, Garden State authorities have charged. Salvatore Magaraci, age 63, and A. Kirsten Gallardo, age 60, of Huntington, specifically targeted elderly victims to pitch unregistered securities to for a crooked – and now-defunct -- company, Acting New Jersey Attorney General Andrew J. Bruck said. The Woodbridge Group of Companies purported to be a commercial lender that made hard-money loans secured by mortgages on commercial property. It ended up being ordered to pay $1 billion -- and saw its…

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by Jerry DeMarco