4 Long Island individuals pleaded guilty to defrauding a financial firm of over $2 million via fake accounts and "instant deposits".
Four individuals from Long Island pleaded guilty to a scheme that defrauded a financial services firm of over $2 million. The scheme involved creating fake brokerage accounts to steal funds, using "instant deposits" for short-term cash advances and purchasing overpriced stock options. The defendants face up to 20 years in prison, restitution of up to $2.08 million, and forfeiture between $56,390 and $700,425.
July 18, 2024
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