"A Brooklyn financial advisor is accused of stealing approximately $852,000 from five clients through promissory notes promising high returns, in what prosecutors describe as a Ponzi scheme that diverted investor funds for personal expenses and payments to earlier victims."
A financial advisor in Brooklyn's Sheepshead Bay area faces accusations of operating a Ponzi scheme that defrauded five clients of approximately $852,000. The scheme involved selling promissory notes that promised high investment returns. Instead of investing the funds as promised, the advisor allegedly diverted investor money for personal expenses and to make payments to earlier victims, a hallmark characteristic of Ponzi schemes. Brooklyn District Attorney Eric Gonzalez's office is prosecuting the case.
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