Passaic County Adviser Conned Investors Out Of $471,602, State Authorities Charge
An investment adviser from Passaic County stole $471,602 from two dozen investors he recruited for an unregulated commodities trading group, state authorities charged.
The business he the Think Big Institute was failing when Scott Nicholson, 53, of North Haledon, began to “misappropriate investor monies by withdrawing existing investment monies and new investments for his personal benefit,” state Attorney General Gurbir S. Grewal said.
Over the course of five years, Nicholson transferred $373,823 in investment money to his personal checking account and paid $271,129 worth of personal expens…
Former Long Island Investment Adviser Accused Of Stealing $400K From Clients
A Long Island man has been arrested and charged with allegedly defrauding his former clients of more than $400,000 that he used to pay his personal debts and expenses, including casino gambling debts and credit card bills.
Apostolos Pitsironis, age 52, of Dix Hills, a former registered investment advisor, and broker, was arrested on Wednesday, Feb. 10 in Dix Hills, said Seth D. DuCharme, Acting U.S. Attorney for the Eastern District of New York.
In approximately 2009, Pitsironis, who worked in the Melville office of a financial services firm, began managing the investments of a married…
CT Man Accused Of Defrauding Investors
A Connecticut man has been indicted on 17 counts of allegedly defrauding investors of an alcoholic beverage company.
Brian Hughes, 56, of Madison, was indicted on Friday, Jan. 15, following his arrest, said John H. Durham, U.S. Attorney for the District of Connecticut.
The indictment alleges that in March 2015, Hughes founded Handcrafted Brands, for the purpose of raising money to purchase Salute American Vodka, an alcoholic beverage company.
After founding the company, Hughes allegedly solicited and received funds from investors for the purchase and development of Salute.
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Hoboken Man Ripped Off $750K From Bar Investors, AG Says
Nirav Patel raised hundreds of thousands of dollars that he said he would invest in opening a Hoboken beer palace. Instead, authorities say, the 39-year-old city resident spent the money on himself and other, unrelated expenses, according to an indictment announced Thursday by Attorney General Gurbir S. Grewal.
Patel, who was indicted Wednesday on a charge of theft by deception, began raising money to open World of Beer Hoboken in 2014. He received $750,000 for the venture from an investment group, according to investigators from the state Division of Criminal Justice.
An investor himself,…
