Rockland County man convicted of running massive Ponzi and embezzlement schemes — Scam Guards


WHITE PLAINS – A 41-year-old Nanuet man has been convicted in White Plains federal court of securities fraud, wire fraud, and structuring charges.

It is alleged that Ruless Pierre solicited from investors of Ruless Pierre Consulting Group by falsely promising them that he would earn a 20 percent return on their initial investment every 60 days through stock trading and that the investor would be paid 20 percent every 60 days and could withdraw all funds within 30 days’ notice.

During the course of the investment fraud scheme from at least November 2016 through October 2019, Pierre fraudulently obtained over $2 million from nearly 100 investors.

After receiving the money, Pierre deposited it into one of his personal bank accounts or ban counts of his company. He then transferred the money to trading accounts, where he engaged in unprofitable day trading.

Despite his trading losses, Pierre repeatedly and falsely…

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