James Peister, of St. James, pleads not guilty in alleged $17M Ponzi scheme
An investment advisor and fund manager from St. James is accused of running a $17 million Ponzi scheme over the course of nearly a decade.
James Peister, 62, pleaded not guilty today in federal court in Central Islip after prosecutors unveiled a five-count indictment. He is charged with securities, wire and mail fraud.
The U.S. Attorney's Office says Peister preyed on innocent investors...