Arrest Made In Rockland Based Ponzi Scheme
A Rockland County man has been indicted in two different fraud schemes.
Authorities say Ruless Pierre, the owner of Pierre Consulting Group, was able to steal more than $2 million from more than 100 investors.
Officials say the 50-year-old Nanuet man made false promises to investors and instead used their money to buy luxury vehicles and a fast food franchise.
Pierre is also accused of stealing more than $400,000 from the bank accounts of two hotels where he used to work.
A federal grand jury indicted him on charges of securities fraud, wire fraud, and structuring charges. He was arrested in Nanuet on Monday.
