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

Brooklyn borough president Eric Adams hosted the 4th 1 Black History month celebration held at Brooklyn Borough Hall
News 12 viewers take to Facebook to discuss 2 The Buzz: Attack in Brownsville
A 26-year-old man was stabbed twice after a 3 Man critical after large street fight stabbing in Brownsville
4 Brooklyn Sportscast, Feb. 16
5 Brooklyn Sportscast, Feb. 22

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