On Tuesday, U.S. District Attorney for the Eastern District of New York Breon Peace announced a two-count indictment of four men, all of whom are from Long Island. They were charged with alleged conspiracy to commit securities fraud and money laundering conspiracy in connection with a scheme to steal millions of dollars from a global financial services company based in Menlo Park, California.
The four men are Eduardo Hernandez, Christopher Flagg, Daquan Lloyd, and Corey Ortiz. All four were from Long Island, according to a news release by Peace’s office. Hernandez lived in Lindenhurst while Flagg and Lloyd lived in Copiague. Ortiz was originally from Long Island, having previously lived in Copiague, and has been living in Greensboro, North Carolina since 2022.
Ortiz remains at large. Hernandez was arrested Tuesday in Atlantic City, and Lloyd and Flagg were both arrested on Long Island.
“The defendants are charged with stealing millions of dollars by creating fraudulent brokerage accounts and engaging in sham trading,” Peace. said “For years, the defendants deceived others to line their own pockets. Today’s indictment shows that this Office will hold accountable anyone who tries to manipulate the financial system.”
According to Peace’s news release, the four allegedly engaged in schemes between 2018 and 2023 using fraudulent accounts for deposits, resulting in defrauding the global financial services company of millions of dollars.
“In total, the defendants recruited dozens of individuals to engage in their fraudulent scheme and stole more than $2 million,” Peace’s office added.
If found guilty, the four men could face up to 25 years in prison.
