James Peister, of St. James, pleads not guilty in alleged $17M Ponzi scheme

An investment advisor and fund manager from St.

An investment advisor and fund manager from St. James is accused of running a $17 million Ponzi scheme. (June 9, 2014 6:17 PM)

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...

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