MINEOLA, NY — A Massachusetts man has been indicted on charges of grand larceny after allegedly posing as an investment broker and defrauding a 9/11 victim and her widowed mother of over $140,000. Richard Yasnis, 43, from Natick, Massachusetts, was arraigned before Judge Terence Murphy and pleaded not guilty. He was released on his own recognizance, with a potential sentence of 7-1/2 to 15 years in prison if convicted.
Nassau County District Attorney Anne T. Donnelly detailed that Yasnis falsely presented himself as a seasoned Wall Street investor to his victims, promising substantial returns on investments in property renovations and the stock market. Among the funds swindled were $48,800 from the 9/11 Victim Compensation Fund, awarded to one of the victims for her service at Ground Zero and subsequent health issues.
Between May and June 2023, Yasnis met with the victims, claiming affiliation with Cahill Financial Group and proposing investment opportunities, including a new venture with a company called “Flexport.” In addition to monetary investments, one victim contributed a piece of jewelry valued at approximately $5,000, intended for resale to finance these opportunities.
By September 2023, when the victims requested documentation of their investments, Yasnis failed to provide any and ceased communication. Investigation revealed Yasnis was not a licensed broker nor was he affiliated with Cahill Financial Group. Furthermore, “Flexport” remains a privately held company, debunking Yasnis’s claims of a public offering.
Yasnis was arrested on December 20, 2023, by the Nassau County Police Department, following the discovery of his fraudulent activities. His court date is scheduled for September 18, 2024.
