Dear John: Bottom line, I was conned out of $312,000 over the span of 30 years from a guy who was a customer of mine. I retained a criminal lawyer to get him arrested and my money back.
My lawyer is urging me to accept an offer of $150,000.
During the trial’s discovery period, it was found that he conned many others but settles for a fraction [of what he took].
We also found out that his daughter became a lawyer and works for a lawyer who is always in the news.
I know the guy fears a criminal trial. Besides being expensive, he really doesn’t want to do time!
With $100,000 he took, he bought me restricted shares of a stock, KEYO, at $1.50, which I watched drop below 1 penny. That check was made out to him.
The other $212,000 was for IPOs that never happened and that I believe were just part of his con. He just pocketed the $212,000.
Every summer he rents a house in Southampton and is always driving a Bentley or Rolls Royce. He lives in a very luxurious co-op.
I was thinking that if I could get the Securities and Exchange Commission, the US Attorney’s office or the District Attorney’s office to call him — and maybe the media — it could give me enough leverage to get back all my money. B.S.
Dear B.S.: So basically, you want law enforcement or the press to be your collector.
But it doesn’t work that way.
If you persuade law enforcement to look into this guy, they aren’t going to stop when (or if) you get your money back — assuming what you are telling me is true. They will investigate and prosecute. And ultimately, these investigations will make this guy poorer because of legal fees. So he might not have $312,000 to give you.
And if the press calls him, he’ll be spooked and whatever he does for a living will suffer. And the media coverage itself might generate the interest of prosecutors. So he’ll be broke, but you’ll have put the media in the middle.
It seems to me that you either get a bird in the hand or a chance for justice against this guy for yourself and everyone else you think he’s swindled.
Maybe Hurricane Sandy damaged his Southampton house and that’ll make you feel better.
Let me know what to do if prosecutors contact me after reading your letter.
Send your questions to Dear John, The NY Post, 1211 Ave. of the Americas, NY, NY 10036, or john.crudele@nypost.com.