Posted on: June 12, 2018 06:00 PM

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Syosset financial adviser busted for 5 million Ponzi scheme

Matthew Eckstein, 48 of Syosset was arrested and charged for allegedly scamming 14 people who are mostly seniors involving Ponzi scheme worth $5 million dollars. His arrest was reported on June 12 by Nassau County DA's office. He is charged with Grand Larceny, Scheme to Defraud and other charges. His bail was set at $125,000. His next court date is July 2. The investigation reported started January 2015 when victims reported to authorities while working with clients as a financial adviser.