A former Wall Avenue criminal with ties to the Mafia allegedly arrange two dozen pretend most cancers charities throughout the nation and scammed donors out of greater than $150,000, prosecutors cost.
Beginning in 2014, Ian Hosang, 63, of Staten Island, started establishing pretend non-profits with legitimate-sounding names, together with “American Most cancers Society for Youngsters” and “United Manner of New York Inc.,” however donations by no means went to medical analysis or group outreach, based on the Brooklyn District Legal professional’s Workplace.
As an alternative, he “lined his personal pockets,” DA Eric Gonzalez mentioned in an announcement.
Hosang was arrested Might 9 and arraigned in Brooklyn Supreme Court docket on 12 counts of grand larceny, three counts of identification theft and one depend of scheme to defraud. He was launched with out bail.
He obtained slaps on the wrist in earlier run-ins with the regulation over charity schemes — In 2018, North Dakota and Washington dissolved Hosang’s phony charities, and barred him from establishing any extra, SILive reported. Three years later, the Michigan Legal professional Common Workplace dissolved 10 of his entities, the Mining Journal reported.
He now faces seven years in jail if convicted.
Previous to his charity scams, Hosang was a wannabe Jordan Belfort.
In a 1997 criticism federal prosecutors in Brooklyn accused Hosang of being the ringleader of a pump-and-dump inventory scheme, and claimed certainly one of his companions, Frank Mancini, was linked to the Gambino crime household, the Wall Avenue Journal reported.
Hosang’s “stockbrokers” have been simply potheads he discovered on the subway, and he and Mancini as soon as beat a rival dealer and hung him the other way up out of a ninth flooring window, The Journal reported.
Hosang pleaded responsible to federal conspiracy and cash laundering costs in 1999. He served 12 years in federal jail, SILive reported.
Hosang’s lawyer, Paul Martin, refused to remark.