Attorney General James Announces Conviction and Sentencing of Florida Man for Investment Fraud Scheme Targeting the Haitian Community

NEW YORK – New York Attorney General Letitia James today announced the conviction and sentencing of Marc Henry Menard, formerly of Mineola, New York, for operating a three-year securities fraud scheme that targeted the Haitian community in New York, Florida, and Georgia, and stole more than $600,000 from 11 investors. Menard, who is not registered to offer or sell securities, solicited unsuspecting individuals to invest hundreds of thousands of dollars, claiming that he was a highly successful trader and could generate returns of up to 20 percent per month. Instead, Menard transferred investors’ money into his own personal trading account, where he sustained staggering losses from high-risk trading. Menard also used his investors’ money to pay his personal expenses, make expensive purchases on travel and luxury goods, including from Gucci and Louis Vuitton, and repay prior investors. In April, Menard pleaded guilty in Nassau County Supreme Court to Grand Larceny in the Second Degree, Scheme to Defraud in the First Degree, and Securities Fraud. Today, he was sentenced to five years’ probation and was banned from participating in the securities industry for five years.

“Marc Henry Menard lied to hard-working New Yorkers and stole hundreds of thousands of dollars to treat himself to lavish trips and luxury purchases,” said Attorney General James. “Thank you to my partners in law enforcement for helping to end this fraud and bring Menard to justice. I encourage all New Yorkers to take caution when making investments and report any suspicious offers to my office.”

Today’s sentencing is the result of an investigation led by the Office of the Attorney General’s (OAG) Criminal Enforcement and Financial Crimes Bureau (CEFC), which revealed that beginning in July 2020 and continuing through June 2023, Menard solicited members of the Haitian community to invest hundreds of thousands of dollars into his company, Marcotech, LLC. Menard targeted Haitians in Nassau, Suffolk, Rockland, and Queens counties, as well as Florida and Georgia. He promised investors monthly returns of between 12 and 20 percent and promised higher percentages if they recruited additional individuals to invest. In order to solicit investments, Menard told investors that he was an experienced and highly successful trader of stocks and cryptocurrencies. 

After soliciting investments, Menard deposited a portion of investors’ money into his own personal trading accounts. He then used these funds to engage in risky trading options including high-risk day trading and options trading, which resulted in losses totaling over $670,000 between July 2021 and October 2022. Menard also used hundreds of thousands of dollars from investors to repay prior investors, and for personal expenditures. Menard spent over $100,000 on trips to Turkey, Puerto Rico, and Disney World, a 2021 Mercedes Benz and a 2022 BMW, and purchases at luxury retailers such as Louis Vuitton and Gucci.  

To further his scheme, Menard showed investors a fake ATM receipt that reflected a bank account balance of over $8 million, and a fake trading screen showing a net account value of over $1 million. Menard’s investors relied on these false statements, believing they were earning significant profits, and continued to invest. The OAG’s investigation revealed between July 2021 and October 2022, the highest net value of Menard’s trading account was $240,000 and the highest balance of Menard’s bank account was $301,000.

On April 17, 2026, Menard pleaded guilty in Nassau County Supreme Court to Grand Larceny in the Second Degree, Scheme to Defraud in the First Degree, and Securities Fraud. Today, he was sentenced to five years of probation and was banned from participating in the securities industry for five years. Menard also admitted to the amounts he owes investors, totaling $385,271, and judgments were entered against him in favor of his victims. 

Attorney General James recommends that New Yorkers take basic steps to avoid becoming the victim of investment fraud schemes. These include:

• In general, do not wire money, send cryptocurrency, or give cash to people you don’t know and haven’t vetted because these transactions are irreversible;
• Be suspicious of individuals you encounter who pressure you to withdraw from retirement accounts (even at a penalty), to borrow money from friends/relatives, or to apply for loans from a bank;
• Beware of individuals who promise you higher profits if you agree to recruit others invest;
• Never rush into any investment. Be skeptical if the individual insists that you must invest money within a very short time frame, claiming you will lose out on the opportunity;
• Verify that the person offering the investment is properly registered. You can check investment professional registration at FINRA’s BrokerCheck;
• Before investing, consult a trusted legal professional or financial advisor who can advise you if the investment is proper;
• Trust your instincts and think twice before investing. If the investment opportunity seems too good to be true, it probably is; and
• If you suspect fraud, report the individual to law enforcement. Save all communications so that you can provide them to law enforcement if needed.

Attorney General James encourages anyone who may have been a victim of this type of scam to report it to OAG by filing a complaint online or calling 1-800-771-7755. Any identifying information provided to OAG will be protected according to law and policies on the safeguarding of identifying information.

Attorney General James thanks the Financial Industry Regulatory Authority (FINRA) and its Criminal Prosecution Assistance Group for their invaluable assistance in this investigation. Attorney General James also thanks the Sunrise Police Department, the Broward County State Attorney’s Office in the State of Florida, and the Nassau County District Attorney’s Office for their assistance.

This case was prosecuted by Assistant Attorney General David Vargas of CEFC. Analytical work was provided by Senior Analyst Joseph Conniff, under the supervision of Chief Analyst Jayleen Garcia. Forensic accounting was conducted by Senior Auditor Investigator Brenna Magruder, under the supervision of Chief Auditor Kristen Fabbri and Deputy Chief Auditor Sandy Bizzarro of the Forensic Audit Section. CEFC is led by Bureau Chief Stephanie Swenton and Deputy Bureau Chief Joseph G. D’Arrigo.

The criminal investigation was conducted by Senior Detective Brian Metz, under the supervision of Deputy Chief Juanita Bright, Assistant Chief Samuel Scotellaro, and Detective Supervisors Walter Lynch and Anna Ospanova. The Investigations Bureau is led by Chief Investigator Oliver Pu-Folkes. Both CEFC and the Investigations Bureau are part of the Division for Criminal Justice, which is led by Chief Deputy Attorney General Jose Maldonado and overseen by First Deputy Attorney General Jennifer Levy.