The son-in-law of former New York Assembly Speaker Sheldon Silver has been arrested and charged with defrauding investors out of $7 million in a Ponzi scheme, according to a complaint recently unsealed in federal court.
Marcello Trebitsch appeared in federal court in Manhattan on Monday on one count of wire fraud and one count of securities fraud. The former broker stepped down from his leadership position after being indicted on corruption charges in January.
According to the U.S. Attorney’s office, Trebitsch told investors that he would use their money to trade in securities through his investment fund and promised them double-digit returns with low risk. Only a portion of the money was actually invested, while the remainder was used for his personal benefit and to repay other investors.
According to the complaint, the investments took place between 2009 and 2013, and said Trebitsch’s losses with the money invested and that he hid losses by sending falsified accounting statements and tax forms showing annual returns between 15-19%. Trebitsch father-in-law, Sheldon Silver, was arrested after prosecutors concluded that he used his influence to reap $4 million in kickbacks and payoffs over the past decade.
If you or someone you know invested with Marcelo Trebitsch, you may have certain legal rights that require your attention. Contact the attorneys at Dimond, Kaplan & Rothstein, P.A. to set up a consultation today to discuss your legal rights over the phone or at one of our local offices in Florida, California or New York.
