clock menu more-arrow no yes

Filed under:

One Panoramic View Owner Pleads Guilty to Fraud

New, 2 comments

Yesterday, Old Westbury investment advisor Brian Callahan pleaded guilty to securities and wire fraud in connection with Montauk's Panoramic View resort. Callahan, who purchased the Panoramic View with his brother-in-law in 2007, siphoned cash from funds he managed into the money-losing resort. US Attorney Loretta Lynch said in a statement, "Through lies and deceit . . . [Callahan] misled investors and stole investor funds, including investments from a local fire department, to support a lavish lifestyle and operate a multimillion-dollar Ponzi scheme." The feds are moving to seize the resort. The other owner of the Panoramic View, Callahan's brother-in-law Adam Manson, pleaded not guilty and will appear in court next month.
· Investment adviser pleads guilty in $96M Ponzi scheme involving Montauk resort [Newsday]
· All posts about the Panoramic View [CH]