CHARLOTTE, N.C. – A New York man has been indicted on charges of securities fraud, wire fraud, and money laundering for scamming North Carolina victims out of nearly $400,000 in an investment scheme.
Rudolph Carryl, 67, of Oyster Bay, N.Y., was indicted by a federal grand jury in August 2018 for his role in operating Carryl Capital Management (CCM), an investment management firm with offices in New York City.
According to the indictment, Carryl solicited victim M.G. to give him money to invest in stock on M.G.’s behalf. M.G., a retired nurse who resided in North Carolina, wired approximately $64,000 to an account controlled by Carryl. However, instead of purchasing any stock as promised, Carryl used much of the victim’s money on personal and other unrelated expenses, and withdrew a substantial amount of it in cash.
The indictment also alleges that Carryl solicited victims W.B. and A.B., a retired United States Air Force veteran and his wife, to invest approximately $350,000 in a purported investment fund being managed by Carryl. Carryl lied to the couple, claiming that he was a successful investment adviser who managed investments for the country of Saudi Arabia and that he was friends with wealthy celebrities.
Carryl was arrested at a halfway house in Brooklyn, N.Y., and was previously sentenced in New York on August 9, 2017, to 12 months and one day in prison for wire fraud charges related to a separate investment scheme in another state.
Carryl’s scheme was uncovered after his victims repeatedly requested statements reflecting the status of their investments, but he never provided any statements, instead making numerous false claims that their investments were doing well and making money.
Carryl’s indictment highlights the importance of conducting thorough research on investment opportunities and being cautious of unsolicited investment offers.
Key Facts
- State: North Carolina
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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