Bay Ridge man accused of Ponzi scheme

Federal prosecutors say a Bay Ridge man duped Brooklyn clients into investing in a Ponzi scheme for more than 30 years.Phillip Barry allegedly swindled his

BAY RIDGE - Federal prosecutors say a Bay Ridge man duped Brooklyn clients into investing in a Ponzi scheme for more than 30 years.

Phillip Barry allegedly swindled his clients out of about $40 million over three decades.

Barry was arrested at his home in Bay Ridge. He faces 20 years in prison if convicted.

advertisement | advertise on News 12

Trending Video

Kilusan Bautista once lived in Crown Heights until 1 NYC man's show puts spotlight on gentrification
Brooklyn nail salon makes its own unique nail 2 Brooklyn Style: k2 Nail Salon
3 Activists push women's rights with double entendre
News 12 Brooklyn asked residents what old TV 4 Word on the Street: Old TV shows
The two men who robbed a 9-year-old boy 5 Police: 2 men led 9-year-old away, robbed him

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