This week, it was announced that 67-year-old Rudolph Carryl of Oyster Bay, New York had been indicted on charges of securities fraud, wire fraud and money laundering. The defendant was arrested at a halfway house in Brooklyn, New York. According to the indictment, Carryl presented himself as an investment advisor. He operated Carryl Capital Management, which is an investment management firm with offices in New York City.
The indictment alleges that Carryl solicited victim MG to give him money to invest on MG’s behalf in or around February of 2015. MG was a retired nurse who resided in North Carolina. MG was also the defendant’s childhood friend. Over the next few months, MG wired roughly $64,000 to an account controlled by Carryl. Carryl misrepresented that the money would be used to buy stocks.
The indictment accuses Carryl of using a lot of the money on personal expenses. MG continued investing more money with Carryl throughout 2015 and 2016. The defendant is also accused of soliciting investments from others across North Carolina. At this point in time, the defendant is innocent until proven guilty beyond a reasonable doubt in a court of law. Further details have been made available here.