Westchester Investment Advisor convicted of embezzling $ 640,000 from clients

A Westchester County investment advisor has been convicted in a scheme to embezzle more than $ 640,000 from several of his clients.

Gregg Brie, 54, of White Plains, was sentenced Monday, Nov.15 to 63 months in prison after pleading guilty to one count of wire fraud, according to Damian Williams, United States Attorney for the Southern District of New York. .

Brie was also ordered to serve three years of supervised release and pay for confiscation and restitution in the amount of $ 642,333.33 each.

Williams said Brie embezzled funds from three of her clients, including two people who lived in her apartment complex in White Plains.

The U.S. Attorney’s Office said the first victim gave Brie more than $ 480,000 after Brie advised her to buy shares in Alaska Air Group, Inc.

Brie told the victim his shares had risen to about $ 8 million, but when the victim demanded the money, Brie told him his accounts were frozen “because the stock brokers had done something wrong. “Brutal” in order to buy the shares at a lower price, ”Williams reported.

After the victim attempted to contact the brokerage firm, Brie said he would “murder” him if the victim did so again, and he repeated the threat at least two more times, the US prosecutor’s office said. .

The second victim made loans to Brie, totaling approximately $ 157,000, “for the purpose of producing and distributing a proprietary unmoulded composite dresser for use in needy places in the African nation of Uganda. “Williams said.

The third victim allegedly loaned Brie $ 2,000 following Brie’s “declaration that he was illiquid because he had invested all of his money in the unimold dresser project.”

An FBI analysis of Brie-controlled bank accounts showed he spent the victims’ money on credit cards and leasing a Mercedes Benz, Williams said.

Williams said the evidence showed there was no brokerage account.

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