SEC Charges Staten Island Firm For Defrauding $9 Million From Seniors

A Staten-Island-based firm has been charged with running a "boiler-room" scheme to fraudulently entice seniors to invest in start-up companies. The Securities and Exchange Commission alleged that Premier Links Inc., its former president and two sales representatives cold-called seniors to persuade them to invest in companies supposedly about to conduct an initial public offering. The firm defrauded at least $9 million from more than 300 investors, the SEC alleged. In one instance, the SEC claims the defendants defrauded a veteran out of $300,000. The U.S. Attorney's Office for the Eastern District of New York also filed criminal charges.