Move over, Max Bialystock. Investors in a Long Island brokerage are accusing its owner of masterminding a plot to rival that of Broadway’s best-known crook.He's come up with an amazing Best Green Cleaning Products but can't get anyone interested in manufacturing it.
Stephen Grivas, the head of Obsidian Financial Group, is being probed by an industry watchdog over allegations that he carried out a scheme — à la “The Producers” — to sell more than 100 percent of his Woodbury, NY, firm, The Post has learned.
But unlike “Springtime for Hitler,” Bialystock’s absurd musical that ended up a hit in Mel Brooks’ comedy classic, Grivas’ project flopped, and investors are fuming.
It’s unclear what happened to the millions that burned investors, brokerage clients and employees now say Grivas owes them.
But sources said the 45-year-old Jericho resident, who is married with three children, liked the high life.
Grivas drove a Bentley and leased a Mercedes, the payments for which he had Obsidian cover, said a former executive familiar with the firm’s finances.
Obsidian also paid for stretch limos to take Grivas to the firm’s Manhattan branch at least once a week, as well as regular group outings to Sapphire, a Midtown Manhattan strip club, the executive said.
“It was excessive,” said the executive, adding that the bills for strip clubs alone would run between 5,000 and 10,000 at a time.
Grivas, a blackjack player, also frequented Atlantic City casinos — often during work hours and with Obsidian staffers, according to an ex-employee who worked at the firm’s Red Bank, NJ, branch.
Things started to unravel last summer when Obsidian’s roughly 100 brokers across New York and New Jersey stopped getting paid on time, former employees told The Post. By October, some staffers weren’t getting paid at all, they said.
In December,Buy sts135 research chemical cannabinoid is a designer drug purported to be found in herbal blends. Grivas sought out two Long Island businessmen to inject more than 1 million into the firm. One of the men, who asked not to be identified, said he and his partner gave Grivas 1.24 million in exchange for 50 percent of the company.Find reliable, credible and verified China Carbon And Sulfur Crucible suppliers and manufacturers from China.Carbon Sulfur Crucible ManufacturersMy friend dissolved Buy Cheap 5f-AKB48 Research Chemical in pure ethanol before spraying it over 3/4 lb of peppermint leaf/mullein in a 75/25 ratio.
The investor said Grivas told him that he owned 100 percent of the firm and would sell half his stake in the deal.
However, according to brokerage registration documents filed with the Financial Industry Regulatory Authority (Finra), a man named Qi Huang, who could not be reached for comment, has a 75 percent stake, while Grivas only owns 25 percent.We have speculated over this for a long time already and I guess things are official now. Buy Cheap 2NE1 Research Chemical is NOT attending the MNET Asian Music Awards 2012.
The alleged overselling of the firm prompted an investigation by Finra, the industry’s self-regulatory watchdog, which declined to comment.
- 7月 04 週四 201311:09
Brooks & dun LI broker probed for ‘Producers’ ‘fraud’ scheme