Brooklyn-Based Defendant Induced Hundreds of Individuals Throughout the United States to Invest More Than $40 Million
A criminal complaint was unsealed this morning in federal court in Brooklyn charging Philip Barry, a money manager based in Bay Ridge, New York, for operating a long-standing and large-scale Ponzi scheme.1 The defendant’s initial appearance is scheduled to be held later today before United States Magistrate Judge James Orenstein at the United States Courthouse, 225 Cadman Plaza East, Brooklyn, New York.
