Authorities: Man swindled thousands from investors

Prosecutors accused a Brooklyn man Thursday of scamming hundreds of thousands of dollars from investors across the country.Authorities say Adam Heng sold fake stocks from

BROOKLYN - Prosecutors accused a Brooklyn man Thursday of scamming hundreds of thousands of dollars from investors across the country.

Authorities say Adam Heng sold fake stocks from his Sheepshead Bay home and fraudulently invested the money.

Jim Gilbert, a Korean War veteran who says he was swindled by Heng, thought he was going to double his investment.

?I didn?t know there was that kind of people out there,? says Gilbert, 76.

Heng?s victims stretched from Pennsylvania to California ? all but one a senior citizen, prosecutors say.

?What he did do is send bogus financial statements to them after they invested to indicate that, ?Look, your returns are doing great,?? says Assistant United States Attorney Dennis Ring.

Kings County District Attorney Charles Hynes says that while there are six known victims of Heng, he believes there could be many more across the country.

advertisement | advertise on News 12

Trending Video

A man has been hospitalized after a shooting 1 Police: Man hospitalized after shooting on Nostrand Avenue
Two teens attempting to jump from one rooftop 2 Teen dies trying to jump between rooftops
Bay Ridge held its annual St. Patrick's Day 3 Bay Ridge holds annual St. Patrick's Day parade
Neighborhood Brief for March 26 4 Neighborhood Brief for March 26
News 12's Dan Serafin visited Lincoln High School 5 Lincoln H.S. alumnus plays in Sweet 16 of NCAA Tourney

advertisement | advertise on News 12

Features

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE