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FOR IMMEDIATE RELEASE Washington D.C., Dec. 30, 2020 — The Securities and Exchange Commission today charged Gregory Altieri, of Melville, New York, for operating a fraudulent Ponzi-like scheme that defrauded current and retired police officers and firefighters, among others, and misappropriating investor funds. According to the SEC's complaint, from at least 2017 through early 2020, Altieri, through LNA Associates, an entity he owned and controlled, raised over $69 million from at least 80 investors by falsely claiming that the investments would be used to acquire jewelr...

SEC Charges Jewelry Wholesaler with Fraudulent Securities Offering Targeting Current and Retired Police Officers and Firefighters 12/30/2020 | 11:50am EDT Send by mail : Message : Required fields Washington, D.C.--(Newsfile Corp. - December 30, 2020) - The Securities and Exchange Commission today charged Gregory Altieri, of Melville, New York, for operating a fraudulent Ponzi-like scheme that defrauded current and retired police officers and firefighters, among others, and misappropriating investor funds. According to the SEC's complaint, from at least 2017 through early 2020, Altieri, throu...

N.Y. Jewelry Wholesaler Guilty in $200 Million Ponzi Scam Bloomberg 12/30/2020 © Bloomberg A employee inspects a diamond. (Bloomberg) -- A New York jewelry wholesaler admitted he ran a $200 million Ponzi scheme, falsely telling investors he was using their money to buy jewelry at “closeout” prices and reselling it at markups of 30% to 70%. Popular Searches Instead, prosecutors said, Gregory Altieri admitted on Wednesday that he used money from new investors to repay earlier investors. Altieri, of Melville, pleaded guilty in federal court in Brooklyn to wire fraud and securities fraud...