Two Accountants Bilk Dozens of Investors

New York -  The U.S. Attorneys Office filed criminal charges on Thursday against two Westchester County accountants.  According to the two complaints, the two pocketed more than $1.6 million by selling phony shares in a dormant Tennessee pipeline and in other bogus investments to investors made through their Armonk accounting firm Marshall Granger & Co. 

The SEC complaint alleges that Laurence Brown, 63 of Katonah and his business partner Ronald Mangini, 61, of Mount Kisco took in $2.1 million, returning only $136,000 in interest to some investors "in classic Ponzi scheme fashion."  The SEC said it will seek fines, penalties and permanent injunctions against both Brown and Mangini.

Brown is charged with money laundering, wire fraud and securities fraud in the criminal complaint filed by the U.S. Attorneys Office. He faces up to 20 years in prison on the top charge.

-----------------------------------

A "white collar" crime is typically a criminal offense that is committed in a business or financial environment, often involving politicians, business executives, or others in positions of trust or responsibility within a company. Many white collar crimes are types of non-violent larceny crimes, such as fraud, theft of services, embezzlement or identity theft. White collar crimes may be charged in State or Federal court, depending on the particular offense.

If you or a loved one has been arrested or is currently under investigation for a white collar crime in Westchester County, New York please contact the Law Offices of Robert Schuster as soon as possible. You may be in danger of facing imprisonment and heavy fines if you are convicted.  Mere allegations of fraud, embezzlement, forgery or larceny may cause serious damage to your reputation and future business ventures. You need - and deserve - an aggressive criminal defense attorney who can effectively protect you against a conviction and who is accustomed to protecting his clients from the media and alleged victims.