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In the Media | ||
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In the NewsNabbed in Disney SchemeNEW YORK DAILY NEWS By John Lauinger December 23, 2006 A LONG ISLAND financial adviser allegedly stole millions from his clients because he loved Mickey Mouse - but his scheme was just plain Dumbo. Peter Dawson, 49, who owns Brash Management Group, a Uniondale financial advisory firm, was charged yesterday with bilking 12 clients - including a close friend - of $10 million, Nassau County police said. Dawson used his goofily gotten gains to take "many trips to Disney World" to enlarge his extensive collection of Disney memorabilia, Nassau Detective Sgt. Lucy Graziano said. Police are investigating whether Dawson swindled an additional 28 clients out of as much as $25 million. Dawson allegedly pulled off the thefts through a Ponzi scheme. Clients would pay him to refinance home mortgages with the expectation that he would invest some of the resulting equity money and send them a stipend. Instead, Dawson used the funds to line his pockets, pay his employees and give money to a few other clients, cops said. Dawson, who had no arrest record, was nabbed at his Huntington, L.I., house after several duped investors called the cops. He was awaiting arraignment in Nassau County Court on 12 counts of second- degree grand larceny and two counts of first-degree scheming to defraud. | |
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