The owner of a Manhattan investment securities firm has been charged with stealing more than $100,000 from a Suffolk County couple -- money that was supposed to be used to buy stocks, police said Wednesday.
Ronald Feldstein, 66, owner of Trademore Capital Management Llc., was arrested shortly before noon Tuesday at his business on East 58th Street, Suffolk County police said.
Feldstein, of 130 West 15th St., Manhattan, was charged with fourth-degree grand larceny and is scheduled to be arraigned June 4 in First District Court in Central Islip, police said.
Phone calls seeking comment were made to two numbers listed for the company; both numbers were out of service.
Between August and October 2009, the couple gave Feldstein $117,500 in cash and checks -- both to him personally and to his business -- to be used to purchase stocks, police said.
"In 2010, the couple requested the stock, KeyOn Communications, to be sold after the price rose and to have the proceeds mailed to them," police said in a news release. "After numerous attempts were made to reach Feldstein and Trademore Capital, the couple contacted Suffolk Police in 2011."
Detectives with the identity theft section "determined that Feldstein never purchased stocks with the couple's money," police said.
Police urge anyone who believes they may have been a victim of Feldstein or his company to call detectives at 631-852-6281.
With Gary Dymski