“Daily News: Corrupt Stockbroker Stole $270G From Friends and Family, Including His Mother, AG Says”
January 24, 2018
As published by The New York Daily News, January 22, 2018.
This crooked stockbroker would even steal from his own mother, investigators say.
State investigators announced Monday they’d charged Franklin Marone — a 55-year-old Queens resident who’d already served jail time for investment fraud — with stealing more than $270,000 from his friends and family, including his 88-year-old mother.
“The defendant in this case brazenly stole from those closest to him, showing no remorse for his prior victims and completely disregarding the law,” said state Attorney General Eric Schneiderman.
Marone stole more than $100,000 from his mother by posing as her to drain her accounts and selling off her valuables at a pawn shop, investigators said. He also allegedly tricked friends and relatives into giving him money by telling them his mother was ill and needed medical treatment.
He used the stolen money to pay for upgrades to his Jeep Wrangler, Caribbean cruises and thousands of dollars in premium gym memberships for himself, his current girlfriend and their families, authorities said.
Marone, a skier who previously worked on a ski patrol in the Catskills, was convicted in 2004 of stealing millions from his ski patrol members through a bogus investment fund.