East End hotel owner Adam Manson pleads guilty in $96M Ponzi scheme
MONTAUK - An East End hotel owner could spend five years behind bars for allegedly being involved in one of the largest investment frauds in Long Island history.
Adam Manson pleaded guilty yesterday for his role in a $96 million Ponzi scheme.
The FBI say Manson and his brother-in-law siphoned money from 40 investors, including $600,000 from the Montauk Volunteer Fire Department.
The duo bought the Panoramic View hotel in Montauk and luxury cars and homes in Westhampton and Old Westbury.