September 16, 2021
Scam/Fraud

Barred Glen Cove broker stole $80,000 from victims of investment scam, DA says

A previously barred Glen Cove investment broker stole more than $80,000 from victims who believed they were investing in shares of DoorDash, Airbnb and Petco, Nassau prosecutors said.

Peter Quartararo, 56, who was first arrested in April on similar fraud charges, was arraigned Tuesday in Mineola and charged with second and third-degree grand larceny. Quartararo, who was released on his own recognizance, faces five to 15 years in prison if convicted of the top count.

“This defendant has now been arrested twice this year for allegedly defrauding multiple victims with the same empty elevator pitch, stealing more than $500,000 in total from his victims and never delivering on his promises,” said Acting Nassau County District Attorney Joyce A. Smith. “This case further highlights the need for investors to…

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