New York Attorney General, Letitia James•©️Getty image
Florida, August 11, 2025.- Marc Henry Menard, a Florida resident, was arrested for swindling over $600,000 to 11 investors. According to New York Attorney General Letitia James, he reportedly used these funds to finance a luxurious lifestyle, including high-end cars and purchases from Louis Vuitton and Gucci.
Arrested in Sunrise, Florida, Menard is accused of orchestrating, for three years, a scheme of securities fraud targeting mainly the Haitian communities of New York, Florida and Georgia. He faces 24 counts, including fraud and robbery.
As early as July 2020, he reportedly solicited investors by promising monthly returns of 12 to 20%, while presenting himself as an experienced stock and cryptocurrency trader, even though he was not allowed to sell securities. He then allegedly diverted the funds to his personal accounts for use in risky trading operations, resulting in the loss of more than $670,000 between July 2021 and October 2022.
Menard also reportedly used the money to pay back former investors, finance expensive travel, acquire a Mercedes-Benz 2021, a BMW 2022, and make luxury purchases. In order to deceive his victims, he allegedly falsified bank statements and posted false account balances, claiming to hold up to $8 million, while his actual net worth would never have exceeded $301,000.
He was released conditionally: surrender of his passport, ban on leaving New York and Florida, and a weekly requirement to report to the authorities.
If convicted, he shall be sentenced to up to 15 years in prison. Last June, the SEC (Securities and Exchange Commission) also sued him for swindling at least 50 people, mostly from the Haitian community, for an estimated total of $1.65 million.
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