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

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

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.