Barred Broker Charged With Defrauding Investors of $436,000
Peter Quartararo convinced investors that he could purchase shares of companies like Peloton or AirBnb before their initial public offerings, according to prosecutors and the SEC.
A Long Island-based investment broker who was previously barred from the industry was arraigned Wednesday in federal court for allegedly stealing $436,000 from four individuals who believed they were investing in shares of pre-initial public offerings (IPOs) for a number of well-known companies, including Peloton and AirBnB.
According to the Nassau County District Attorney’s office, the SEC referred the case against Peter Quartararo earlier this year. Both he and business partner Paul Casella were charged with a number of grand larceny and conspiracy counts, and each faces as many as 15 years in prison,

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