N.Y. Man Sentenced In Multi-Million-Dollar Investment Fraud
Long Island Man Sentenced in Manhattan Federal Court to Five Years in Prison in Multi-Million-Dollar Investment Fraud Scheme
Manhattan U.S. Attorney
Assistant Director in Charge
According to the Indictment, other documents filed in
From 2008 through
In addition to Victim-1, OTHMAN defrauded at least five other victims by fraudulently inducing them to invest hundreds of thousands of dollars with NAOK. In each instance, OTHMAN exploited personal relationships with the victims to gain their trust, and then betrayed that trust by lying about how the victims' money would be invested and the rates of return that the victims would receive. For example, in
Further, in order to conceal and perpetuate the scheme, OTHMAN made various misrepresentations to the victims regarding the performance of their investments. For example, in
In total, the defendant's fraudulent investment scheme resulted in losses to victims of approximately
* * *
In addition to the prison sentence, OTHMAN, 31, of
The case is being prosecuted by the Office's Complex Frauds and Cybercrime Unit. Assistant U.S. Attorneys
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This content has been reproduced from its original source (http://www.justice.gov/usao/nys/).
Copyright: | (c) 2011 Federal Information & News Dispatch, Inc. |
Source: | Federal Information & News Dispatch, Inc. |
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