Gregory Rorke, Securities Fraud, New York 2015
Gregory Rorke, Securities Fraud, New York 2015
A Manhattan federal court has sentenced Gregory Rorke, a former Columbia Business School professor, to two years in prison for his role in a multi-million dollar securities fraud scheme.
According to the complaint, Rorke engaged in the fraudulent scheme from December 2009 through October 2014, soliciting investments in his company, Navagate, Inc. ("Navagate").
Rorke, 63, of Manhattan and Bronxville, New York, defrauded investors out of more than $3 million by making false and misleading statements about his net worth and the tax liabilities of Navagate.
As a result of his scheme, Rorke raised approximately $3 million in investor money from more than 30 investors.
Rorke also signed a notarized affidavit indicating that he had paid monies owed to the Internal Revenue Service in satisfaction of Navagate's tax liabilities, when in truth the tax liabilities had not been paid and remained outstanding.
The charges against Rorke include one count of securities fraud and one count of wire fraud. He pled guilty on May 7, 2015, and was sentenced on the same date by U.S. District Court Judge Katherine Polk Failla.
The case is being handled by the Office's Securities and Commodities Fraud Task Force. Assistant U.S. Attorneys Andrea M. Griswold and Micah E. Smith are prosecuting the case.
In addition to the two-year prison term, Rorke was sentenced to three years of supervised release.
Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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