Long Island

Feds charge 2 men in Ponzi scheme

The Panoramic View Hotel & Residence at 272

The Panoramic View Hotel & Residence at 272 Old Montauk Hwy. in Montauk. (Aug. 1, 2013) Photo Credit: Gordon M. Grant

Two brothers-in-law from Old Westbury were arrested by FBI agents on a multiple-count indictment charging them with siphoning securities investments as part of a nearly $100-million Ponzi scheme that included the takeover of the landmark Panoramic View Hotel & Residence in Montauk.

The Panoramic View Hotel & Residence, a Distinctive
Photo Credit: Hampton Pix

The Panoramic View Hotel & Residence, a Distinctive Ventures Property, is on Old Montauk Highway in Montauk.

Brian R. Callahan of Old Westbury is taken
Photo Credit: NBC/4

Brian R. Callahan of Old Westbury is taken into custody in Melville. Callahan, 43, was charged in a 24-count indictment with conspiracy to commit securities and wire fraud, federal authorities said. (Aug 1, 2013)

Adam J. Manson, center, is taken into custody
Photo Credit: NBC4 New York

Adam J. Manson, center, is taken into custody in Melville. Manson, 41, of Old Westbury was charged in a 24-count indictment with conspiracy to commit securities and wire fraud, federal authorities said. (Aug 1, 2013)

The website for the Panoramic View Hotel &
Photo Credit: Hampton Pix

The website for the Panoramic View Hotel & Residence calls it "A Distinctive Management Property" with units selling for prices as high as $6.55 million — and monthly maintenance fees ranging to more than $3,200.

The Panoramic View Hotel & Residence at 272
Photo Credit: Gordon M. Grant

The Panoramic View Hotel & Residence at 272 Old Montauk Hwy. in Montauk. (Aug. 1, 2013)

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