LONG ISLAND INVESTMENT ADVISORS INDICTED FOR DEFRAUDING CLIENTS OF MILLIONS

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Long Island Investment Advisers Indicted for Defrauding Clients of Millions of Dollars

U.S. Attorney’s Office, Eastern District of New York
Defendants Misappropriated Funds of Dozens of Clients, Some of Whom Are Elderly and Disabled

A 16-count indictment was unsealed Tuesday in federal court in Central Islip charging investment advisers Adam Kaplan and his brother, Daniel Kaplan, with conspiracy to commit wire fraud, wire fraud, investment advisor fraud, and money laundering in connection with several schemes to steal millions of dollars from their clients.  The defendants were Tuesday and arraigned before United States Magistrate Judge James M. Wicks. 

Breon Peace, United States Attorney for the Eastern District of New York, and Christie M. Curtis, Acting Assistant Director-in-Charge, Federal Bureau of Investigation, New York Field Office (FBI), announced the arrests and charges.

“As alleged, the Kaplans engaged in years-long schemes violating the trust that their clients, some of them elderly and vulnerable, had placed in them to manage their money safely and honestly,” stated United States Attorney Peace.  “The defendants lined their pockets at the victims’ expense, but with their lies and frauds exposed, they will be held to account for their conduct.” 

Mr. Peace thanked the Securities and Exchange Commission for their assistance with the case.

“As alleged, the Kaplans engaged in multiple investment fraud schemes that victimized their clients, many of whom were elderly or disabled. This type of illegal activity is unfortunately all too common and even more egregious when vulnerable groups are targeted,” stated FBI Acting Assistant Director-in-Charge Curtis.  “The FBI will continue to investigate and hold accountable those who exploit their clients by misappropriating their funds for personal gain.”

As set forth in the indictment and other public filings, between May 2018 and November 2022, Adam and Daniel Kaplan acted as investment advisors for hundreds of clients.  The defendants used their positions of trust to misappropriate millions of dollars from their clients, some of whom were elderly and disabled.  The defendants used various schemes to misappropriate the victims’ funds, including overbilling for advisory fees, siphoning money from bank accounts through fraudulent advisory fee charges and through purported “investments” defendants never intended to make.

The defendants lied to their clients about the fraudulent charges, forged their clients’ signatures on documents, and made misrepresentations to financial institutions.

In total, the defendants misappropriated at least $5 million, using the funds for personal expenses and to purchase luxury goods.

The charges in the indictment are allegations, and the defendants are presumed innocent unless and until proven guilty.  If convicted, the defendants face up to 20 years in prison.

If you were a client of Adam Kaplan or Daniel Kaplan and would like to file a complaint, please visit www.iC3.gov.  Please reference “Adam Kaplan” or “Daniel Kaplan” in your complaint.

The government’s case is being handled by the Office’s Long Island Criminal Division.  Assistant United States Attorneys Christopher Caffarone, Paul Scotti, and Adam Toporovsky are in charge of the prosecution.

The Defendants:

ADAM KAPLAN
Age:  34
Great Neck, New York

DANIEL KAPLAN
Age:  34
Great Neck, New York

E.D.N.Y. Docket No. 23-CR-293 (GRB)

Contact

John Marzulli
Danielle Blustein Hass
United States Attorney’s Office
(718) 254-6323

Updated July 25, 2023
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ASSEMBLYWOMAN MARYJANE SHIMSKY PREVIEWS AUGUST

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District 92 | News You Can Use

 

National Immunization Awareness Month

At this midpoint in summer—with our thoughts turning ahead to the next school year—it’s important to make sure your children are getting their annual physical check-ups and are on schedule with their routinely recommended vaccines. This is also a good time to review the recommendations for staying up to date with COVID-19 vaccines, as new vaccines to treat the most recent strains are expected to arrive in fall 2023. By each of us doing our part, we can minimize the spread of disease and keep our families and communities safe!

 


 

New York State Unclaimed Funds

Comptroller Thomas DiNapoli’s office has announced that New York State currently holds over $18.4 billion in unclaimed funds—money from dormant utility and bank accounts, uncashed checks, investment accounts, insurance claims, stocks and other inactive accounts. Visit www.osc.state.ny.us/unclaimed-funds to see if any of this money belongs to you.

 


 

Affordable Connectivity Program

As part of the federal Bipartisan Infrastructure Law, the Affordable Connectivity Program (ACP) reduces the cost of high-speed internet. Eligible households can save on their internet bill each month and can also receive a one-time discount of up to $100 on the purchase of a qualifying device. For more information and to check eligibility, visit: www.affordableconnectivity.gov.

 


 

REMINDER: Heat Advisory Now through July 29

The National Weather Service has issued a heat advisory through the evening of Saturday, July 29. You can learn about staying cool and safe in the summer heat here on the NYS Dept. of Health website.

***CLICK HERE TO FIND A COOLING CENTER NEAR YOU***

 


 

Upcoming Community Events

 

Friday, July 28:

Saturday, July 29:

Sunday, July 30:

Tuesday, August 1:

Wednesday, August 2:

 

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BLACK COFFEE WITH WHITE PLAINS WEEK, THE JULY 28 HEAT REPORT AT 8:30 THIS MORNING CH45 FIOS ALL COUNTY,OPTIMUM WHITE PLAINS CH 76 AND ON WWW.WPCOMMUNITYMEDIA.ORG

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THE HOT WHITE PLAINS WEEK — WHAT IT MEANS

OVERLOADS BREAKDOWNS HUMIDITY NIGHTS IN THE SAUNA

IF YOU’VE GOT AN AIR CONDITIONER

YOU’RE THE WOMAN FOR ME

REAL NUMBERS: WPW’S  MID YEAR ECONOMIC REPORT NO INCREASE

 SALES TAX DOLLARS EVEN WITH LAST YEAR.WHERE IS THE MONEY?

COVID KEEPS CREEPING BACK

 WHAT ABOUT WESTCHESTER? WE’RE LIVING HERE.

GEORGE LATIMER: MIGRANTS NO THREAT. NO ACTION FROM DEPT OF HOMELAND SECURITY. NO PHONE CALLS  TO HIM. NO PHONE CALLS TO HOCHUL. NO LETTERS. STILL NO ASYLUM COURT IN COUNTY. NO CLEARANCE TO HIRE MIGRANTS 8 WEEKS OF INACTION FROM WASHINGTON. 

AND IT IS GETTING MORE INTENSE. DR. KATELYN JETELINA ON HEAT ILLNESSES

ENTERTAINMENT THIS WHITE PLAINS WEEK

“OPPENHEIMER” “BARBIE” AND ‘BACK” 

JOHN BAILEY AND THE NEWS TONIGHT

EVERY WEEK ON WHITE PLAINS WEEK

THE NEWS THAT LIFTS YOU OUT OF YOUR CHAIR

EVERY WEEK FOR 23 YEARS

 

 

 

 

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YOUR LOCAL EPIDEMIOLOGIST ON THE HEAT

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Changes in heat-related illnesses?

(REPRINTED WITH PERMISSION)

Um, it’s hot out there. Heat records are breaking all across the globe this summer.

I just spent a week in Texas, and one of my girls got sick really fast. So, naturally, I went down the epi rabbit hole of curiosity: if heat records are breaking, have heat-related illnesses (HRI) increased, too? This may seem intuitive, but some factors are decreasing risk now, too.

This is what I found.

United States

Like many things in public health, the HRI surveillance is a suboptimal patchwork of data, and only some states are reporting, creating a fragmented picture. It seems to have improved over time, which is great.

Among states reporting, in 2021, Louisiana had the highest age-adjusted rate of emergency department visits for HRI (~50 per 100,000 per year). There are substantial year-to-year fluctuations, but rates have remained relatively stable from 2006-2021.

While state data is lagged (last update was 2021), data by region is impressively available in almost real-time. 2023 is shaping up to be unique in the Midwest, with higher rates of HRI than in previous years.

Before 2021, hospitalization rates were lower than ED visits (as expected) and have remained relatively stable since 2000. However, one state stands out: Arizona.

The largest county in Arizona—Maricopa County (i.e., Phoenix)—provides a beautiful annual heat-related death report. In Maricopa County, heat deaths increased fivefold since 2015.

An increase in outside deaths largely drives this pattern. And indoor deaths are mostly among those without a working AC.

International surveillance

Last year nearly 62,000 Europeans died due to HRI. Italy, Spain, and Greece had the highest heat deaths per capita. As Nature Medicine shows below, as temperatures rose (and fell) in Europe, so did the risk of death, particularly among older populations.

(Figure from Nature Medicine, Source here).

But, when looking at heat-related excess death, the Lancet found that the global leader is Eastern Europe and sub-Saharan Africa. (It’s important to note that cold-related excess deaths have increased the most recently, though.)

What’s explaining these patterns?

Like anything in public health, several factors are increasing and decreasing HRI:

Factors increasing risk

  • Heat waves. 35% of heat-related deaths are during heat waves. The frequency of heat waves is increasing over time.
    (EPA)
  • Increased social vulnerability. In 2016, scientists attributed an unexpected increase in Arizona heat illness to a rise in homelessness. Since 2016, homelessness has steadily increased in Maricopa County, for example.
  • Power outages have increased. California had a 28% increase in blackouts from 2018 to 2019. (Unclear if these were planned for wildfires or unplanned.) Texas was the state with the second more power outages. Power outages are linked to an increase in excess deaths.

Factors decreasing risk

  • Better forecasting and early warning systems allow businesses, schools, and individuals to take action sooner.
  • Increased air conditioning. AC use has crept up in the United States but dramatically increased around the globe. And researchers found that broader use of AC saves lives but disproportionately benefits those with higher incomes.

Unknown impact

  • Reporting behavior. If more physicians are aware of HRI, they are more likely to categorize it as such in a patient’s chart. Over time, it will look like more HRI when, in reality, it’s a product of increased reporting. But how much this contributes to patterns we’re currently seeing is unclear.

Bottom line

A change in weather impacts population-level health. Before 2021, increases in heat-related illnesses were strikingly apparent in Arizona. But changes are becoming more apparent in other regions now. We must better adapt communities, as these illnesses and deaths are preventable.

Love, YLE


“Your Local Epidemiologist (YLE)” is written by Dr. Katelyn Jetelina, MPH Ph.D.—an epidemiologist, wife, and mom of two little girls. During the day, she is a senior scientific consultant to several organizations. At night she writes this newsletter. Her main goal is to “translate” the ever-evolving public health world so that people will be well-equipped to make evidence-based decisions. This newsletter is free, thanks to the generous support of fellow YLE community members. To support this effort, subscribe below:

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SUMMER MEALS FOR KIDS/TEENS 18 AND UNDER AT THE WHITE PLAINS LIBRARY

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July 26, 2023

Summer Meals at the Library

Starting today through Friday, August 18th, kids and teens ages 18 and under can get free, healthy meals at the Library. There is no need to sign up. Just show up! Meals are limited, while supplies last. Food must be eaten on-site when picked up.Monday through Friday
11:30 a.m. – 1:00 p.m.
In the Gallery, Second Floor

This program is made possible by the White Plains City School District, local sponsor of the Summer Food Service Program, administered by NY State Dept. of Ed.

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HEADS UP FROM HOCHUL, WHITE PLAINS NY USA FROM $200 MILLION IN GRANTS DEADLINE TO APPLY SEPT 29 UP FOR GRABS FOR DOWNTOWN REVITALIZATION

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Governor Kathy Hochul today announced that $200 million in funding is available through the State’s two signature downtown revitalization and economic development programs — $100 million each for Round 7 of the Downtown Revitalization Initiative and Round 2 of the NY Forward program, which focuses on revitalizing smaller and rural downtowns. This year’s funding brings the total amount of State investment across all rounds of the programs to $1 billion since 2016. Together, the two programs have awarded $800 million in funding to 93 communities across every region of the state. Applications are available on the Downtown Revitalization Initiative and NY Forward websites. The deadline to apply is September 29 at 4 p.m.   

“These two programs have created a wave of revitalization that is sweeping across the state with no signs of slowing,” Governor Hochul said. “The programs are not only reinvigorating downtowns, but they are also making our regions and the state as a whole a world-class destination for businesses, families and tourists. The programs are fulfilling the original vision for the DRI of creating a critical mass of vibrant downtowns of all shapes, sizes and characters in each region to entice businesses to invest and locate in New York State.” 

Governor Hochul also hosted the state’s first-ever forum in Syracuse on the past, present and future of the Downtown Revitalization Initiative (DRI) and NY Forward programs. The forum, entitled “A Retrospective for the Future of the State’s DRI and NY Forward Communities,” featured mayors from communities selected in the first five rounds of the DRI, as well as private stakeholders engaged and invested in the DRIs, who will provide advice, insights, lessons-learned and recommendations to inform the future of the two programs and educate prospective applicants on the benefits of participating.  

  

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“OPPENHEIMER” : WHAT DOES IT MEAN TODAY? YOUR LOCAL EPIDEMIOLOGIST PERSPECTIVE

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Oppenheimer: What does it mean today?

Over the weekend, the Oppenheimer family invited me to San Francisco for the big film debut!

If you haven’t seen the movie, you should: It’s big. With big ideas. A portrayal of the challenges faced by humanity during a tumultuous period in history.

I think it was particularly heavy because it was released in 2023: On the heels of a pandemic, in the face of AI discovery, gene editing, space exploration, and during ongoing conversations around power, trust, and responsibility.

Before the screening, I joined a colloquium of 150 physicists, government officials, and technology leaders discussing this movie’s meaning in today’s landscape. I was certainly out of my element, but the conversations were eerily familiar to public health.

Here are some themes I jotted down:

  • It takes a crisis to perform in this nation. The spirit and power of institutions can be grand when we put our minds to it. But do we always have to be reactive? We can proactively move at the speed and scale, too.
  • Complex vs. complicated problems. A car engine is complicated; traffic is complex. Each requires unique approaches. Big science problems are complex, complicated, or both.
  • Ethical dilemmas and moral responsibility in scientific advancements. Tread carefully. Ensure that our pursuit of innovation does not compromise our moral compass.
  • What is public investment in science for? To improve human connectedness. To seek to inform, not control. This can conflict with private interests and politics.
  • Big science includes international cooperation, knowledge sharing, and unity.
  • What happens when a scientist changes their mind? It’s often villainized. But, typically, where one stands on a topic isn’t so black and white.
  • Science and technology can create an opportunity to talk, just like the end of the pandemic. But followed by a frustrating pattern: Our institutions don’t match the conversations with systematic change.
Oppenheimer November 2, 1945

Bottom line

The movie is a striking reminder of today’s challenges and how these problems have been with us for a long time. With great power comes great responsibility, and the intersection of science and technology is notwithstanding.

Next up: Barbie! I bet we can also find public health themes in there, too :).

Love, YLE


“Your Local Epidemiologist (YLE)” is written by Dr. Katelyn Jetelina, MPH Ph.D.—an epidemiologist, wife. During the day, she is a senior scientific consultant to several organizations. At night she writes this newsletter. Her main goal is to “translate” the ever-evolving public health world so that people will be well-equipped to make evidence-based decisions. This newsletter is free, thanks to the generous support of fellow YLE community members. To support this effort, subscribe below:

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ECONOMY SLUGGISH. WHITE PLAINS, WESTCHESTER SALES TAX RECEIPTS EVEN WITH LAST YEAR AFTER FIRST 6 MONTHS. SALES LAG BEHIND INFLATION RATE

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WPCNR QUILL & EYESHADE. THE SALES TAX RECEIPTS REPORT AT MIDYEAR.  FROM NY DEPARTMENT OF TAXATION & FINANCE.OBSERVATION & ANALYSIS BY JOHN F. BAILEY JULY 25, 2028:

THE FIRST 6 MONTHS SALES TAX RECEIPTS ARE IN.

WHITE PLAINS AND WESTCHESTER ARE APPROXIMATELY EVEN IN SALES TAX COLLECTION RECEIPTS COMPARED TO LAST YEAR. WHITE PLAINS HAS GONE UP 1% AFTER THE FIRST 6 MONTHS OF 2023. WHITE PLAINS HAS  $27.5 MILLION  –1% AHEAD OF THE FIRST 6 MONTHS OF 2022.

IF THE CITY CONTINUES THE PACE OF LAST YEAR THE CITY WILL SET A SALES TAX RECEIPTS RECORD OF  55.9 MILLION.

WESTCHESTER COUNTY HAS BROUGHT IN $429 MILLION IN 6 MONTHS…DOWN 1% IF THAT TREND DOES NOT SWING UP AND REMAINS THE SAME THE COUNTY WILL BANK  $882.5  MILLION BELOW THE OVER 900 MILLION THEY HAVE BUDGETED.

THE QUESTION IS WHY ARE SALES TAX RECEIPTS ONLY EVEN WHEN WE ARE TOLD INFLATION IS AROUND 4%.

PERHAPS THE HIGHER INTEREST RATES ARE HURTING LOANS ON MAJOR PERCHASES AND CREDIT CARD DEBT IS HURTING THE CONSUMER  THE ECONOMY IS SLOW.

 

 

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YONKERS POLICE CAPTURE PRISONER WHO ESCAPED WHILE BEING TRANSFERRED TO COUNTY JAIL SUNDAY

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WPCNR POLICE GAZETTE. Special to WPCNR from Yonkers Police Department. July 24, 2023:

The Yonkers Police Department has successfully captured Geraldo ROJAS, the
escaped prisoner on the run since yesterday morning.

After approximately twenty-nine hours of intensive search efforts, our Yonkers Police
Detectives assigned to the Major Case Squad and Field Intelligence Division, along with
Agents and Task Force Officers assigned to the FBI Westchester Safe Streets Task Force,
located ROJAS after he escaped from Saint Joseph’s Hospital.

During the operation, ROJAS was located in the Bronx, NY, , taken into custody without incident.

The swift response from law enforcement personnel ensured the escapee could not flee further.

ROJAS was arrested and booked on July 21st, 2023, by members of the Yonkers Police
Department for multiple robberies that occurred in Yonkers. On July 22nd, 2023, before
ROJAS could appear in court, he suffered a medical event that required Yonkers Police
Officers to transport him to Saint Joseph’s Hospital.

ROJAS was arraigned by a Judge in theh ospital during the early afternoon hours July 22nd, 2023.

He was remanded to the County Jail awaiting trial. However, because he was not medically discharged from the hospital, custody of ROJAS was transferred to the Westchester County Department of Correction.
Correction Officers were sent to assume the prisoner watch of Rojas at Saint Joseph’s
Hospital, beginning at approximately 6:00 PM on July 22nd, 2023.

At around 4:30 AM on July 23rd, 2023, ROJAS managed to escape from the custody of Westchester County
Department of Correction Officers.

From the onset, Yonkers Police Major Case Detectives
and Officers assigned to the Yonkers Police AWARE Room reviewed hours of surveillance
video around the City, tracking ROJAS’ escape route to lead the investigation in the right
direction.

Escape from custody, in ROJAS’ case, is a crime punishable as a felony in the State of New
York; therefore, the Yonkers Police Department then assumed the primary investigative
role of ROJAS’ crime of escape. Westchester County Department of Correction is the
primary investigative agency of the internal investigation into the details of ROJAS’ escape
at Saint Joseph’s Hospital.

City of Yonkers Mayor Mike Spano stated, “The apprehension of this felon speaks to the
great Police work and collaboration among our Yonkers Police Detective Division and FBI.
In just 29 hours, this individual is off the streets and in custody, ensuring the safety of our
residents. Congratulations on a job well done.”

“We are relieved that Geraldo Rojas is back in custody,” said Yonkers Police
Commissioner Christopher Sapienza. “Our dedicated Detectives and Task Force Officers
worked tirelessly to locate and apprehend Rojas to ensure the safety of our citizens. Their
unwavering commitment to upholding the law serves as a powerful reminder that fugitives
will not evade justice in Yonkers and that public safety remains a top priority for our city.”
ROJAS is now lodged in the City of Yonkers Jail, awaiting transport to the Westchester
County Jail. This successful capture stands as a testament to the diligence and expertise of
our local law enforcement professionals in collaboration with our top-tier investigative
partners in the FBI.

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