WHITE PLAINS – White Plains financial advisor Gregg Brie, 53, was arrested on Thursday and charged with securities fraud and wire fraud stemming from his alleged embezzlement of more than $640,000 from two victims who had entrusted money to him for investment.
It is alleged Brie embezzled funds from two victims, both of whom lived in his White Plains apartment complex.
He allegedly advised his first victim, a disabled man on a fixed income and confined to a wheelchair, to buy shares in Alaska Air Group, Inc. Bank records show that the victim gave Brie more than $480,000. Brie told the victim that he opened accounts for him at a brokerage firm and that his stock had increased in value to approximately $8 million.
When the victim asked for his money, Brie told him his accounts were frozen because the stockbrokers had done something “sketchy” in order to buy the shares at a lower price.
When the victim attempted to contact the brokerage firm, Brie told him that he would murder him if the victim attempted to contact the firm again. Brie repeated the threat at least two more times, noting he meant his threats to be taken “literally, not metaphorically.”
According to written loan agreements drafted by Brie, the second victim made three loans to Brie totaling some $157,000 “for the purpose of producing and distributing a proprietary, composite unimold commode for use within indigent venues of the African nation of Uganda.”
The FBI’s analysis of bank records controlled by Brie show that he spent the money he obtained from the two victims on credit card and a Mercedes Benz lease.
If convicted, Brie faces up to 25 years in prison on the securities fraud charge and 20 years in prison on the wire fraud charge.
