A Glen Head man was arrested Saturday, charged with commodities fraud for ripping off investors and with attempted obstruction of justice, according to an indictment announced Monday by federal prosecutors in Brooklyn
Harris Landgarten, 66, was charged with raising $150,000 from three investors for a commodity-trading pool called Tradeanedge Members Fund, and spending over $100,000 of the money on personal expenses like cable TV, a cellphone, a home alarm and $1,250 monthly payments to himself.
When the Commodity Futures Trading Commission began investigating, prosecutors said, Landgarten pressed one of his defrauded investors to make a false statement and to withdraw the complaint he had filed if he wanted to get back what was left of his investment.
The alleged crimes occurred between 2014 and 2017. Landgarten faces up to 25 years in prison for commodities fraud, wire fraud and attempted obstruction of justice.
He pleaded not guilty and was released on bail Monday. His lawyer did not return a call for comment.