Marc Henry Menard, who admitted stealing more than $600,000 from investors, targeted Haitian communities in Nassau, Suffolk, Queens

A former Nassau County resident who admitted stealing more than $600,000 from 11 investors was sentenced on Thursday to 5 years’ probation and barred from participating in the securities industry for five years, New York State Attorney General Letitia James said in a statement.

Marc Henry Menard, now a resident of Florida, targeted members of the Haitian community in Nassau, Suffolk, Queens and Rockland counties, James said, as well as in Florida and Georgia. He persuaded his victims to invest hundreds of thousands of dollars with him, claiming that he was a successful trader who could generate returns of up to 20% a month.

Instead, Menard — who is not registered to sell or offer securities — transferred the investors’ money into his own personal trading account, where he sustained what James called "staggering losses" from high-risk trading.

Menard used the investors’ money to pay for his personal expenses, travel costs and luxury goods. He also repaid prior investors with the funds, James said.

"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," James said. "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."

Menard’s attorney, Nicholas Carra, of Garden City, did not return a request for comment.

Menard pleaded guilty before Nassau Supreme Court Justice Tammy Robbins to second-degree grand larceny, first-degree scheme to defraud and securities fraud on April 17, according to court records.

James said Menard used the investors' money to engage in high-risk trading and options trading, which resulted in more than $670,000 in losses between July 2021 and October 2022.

He also spent more than $100,000 on trips to Turkey, Puerto Rico and Disney World, and used the investors' money to buy a 2021 Mercedes-Benz and a 2022 BMW. He also made purchases at luxury retailers, including Gucci and Louis Vuitton.

Menard furthered his scheme by showing investors a fake ATM receipt that indicated he had more than $8 million in the bank and a fake trading screen showing an account balance of more than $1 million.

"Menard’s investors relied on these false statements, believing they were earning significant profits, and continued to invest," the attorney general’s statement said. "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.