Nassau County

Nassau is located immediately to the east of New York City and is one of the four counties that occupy Long Island. In 2012, Forbes magazine reported Nassau to be one of the highest income counties in the United States, comprising 4 of the 10 top ten towns by media income. Known pockets of wealth include Hewlett Neck, Munsey Park, Roslyn, Great Neck, Lawrence, Point Lookout, Atlantic Beach, and Garden City with median household incomes exceeding $250,000 and homes priced between, $500,000 to $1 million. Our Nassau securities fraud lawyers have worked on a number of interesting cases involving the residents here.

Being a wealthy residential area, Nassau has seen its share of frauds and financial crimes. In one instance, a financial adviser, Paul Sullivan was allegedly charged with wire fraud after he executed a number of unauthorized trades and lost large sums of money on these trades. Sullivan reportedly got many of his friends and people from his community to invest who trusted him and his skill as a stockbroker and he abused this trust. According to one of the victim’s securities fraud attorneys in Nassau, his client was defrauded out of his entire life’s savings. This is the case with many victims of Ponzi scheme or securities fraud, where they lose all their savings and homes to foreclosure. Another reported Ponzi scammer, Peter Dawson lived in a multimillion dollar home in Huntington and was purportedly known for a lavish lifestyle which he financed by bilking 53 clients out of $11 million. Most of his victims were middle-class retirees living in New York and Florida, and to keep his Ponzi scheme alive he convinced them to take out second mortgages on their homes. Nassau DA’s office auctioned his home and possessions like expensive cuff links to recoup the losses for his investors.

In another bizzare case, the SEC won a $34million judgement against a stone company executives, PermaPave, and a Nassau county lawyer and ex-SEC counsel Fredric Aaron. They colluded to run a Ponzi scheme between 2006 and 2010, where they raised more than $260 million from over 140 investors by falsely presenting the demand for their product and health of the company, including issuing misleading press releases. Aaron allegedly used his former position in the SEC’s office to reassure investors about the safety of their investments. In a typical Ponzi scheme fashion, the investments went to fund the lifestyle of the schemers. Our securities fraud attorneys in Nassau have managed to secure large settlements for many victims of investor fraud.

In 2016, Nassau County’s top prosecutor, Arlene Markarian, also created a new unit focused on crimes against the elderly including financial crimes, because of a recent trend of financial exploitation of the elderly.

Our Nassau securities fraud lawyers represent investors and industry professionals in a range of cases including:

  • Common Law Frauds and Scams, Misrepresentation and Omissions under Federal Securities Laws
  • Unsuitability
  • Overconcentration
  • Elder and Affinity Fraud
  • Churning/ Overtrading
  • Unauthorized Trading
  • Conversion

If anyone you know has been a victim of Ponzi scheme, unscrupulous broker conduct, elder financial, affinity fraud, real estate schemes or any such questionable financial activity take action now by calling 212-943-1233, or emailing jenice@maleckilaw.com.

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Client Reviews
  • Jenice Malecki and Bob Van De Veire did an excellent job on the meditation they handled for me and a group of investors. They were thorough, well-prepared, and knew exactly how to pitch our case. Hope not to need lawyers for FINRA claims again, but would not hesitate to use Malecki Law again.
    ★★★★★
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