New York man accused of scamming $700,000 out of investors

Authorities have announced a New York man has been scammed more than $700,000 out of investors for the past year and a half.

43 seconds read time

Authorities have announced that a Long Island resident has been scamming investors for a year and a half through a fraudulent startup business.

New York man accused of scamming $700,000 out of investors 01

Matthew Gallagher, age 37, of Rocky Point, has been arrested on Wednesday, April 28, at the Seventh Precinct in Shirley and has been charged with the following; two counts of first-degree scheming to defraud, six counts of second-degree grand larceny, eight counts of third-degree grand larceny, four counts of first-degree identity theft, six counts of issuing a bad check, and one count of third-degree attempted grand larceny.

Gallagher is accused of scamming investors through fraudulent startup business ventures and insurance-related frauds. The number of victims of the scams totals 16, and the scams occurred between November 2019 and April 2021. A report has stated that Gallagher will remain at the Seventh Precinct until he appears in front of a court on April 29. For more information on this story, check out this link here.

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