Florida resident Marc Henry Menard has been arrested and indicted for allegedly running a securities fraud scheme that targeted the Haitian community in New York, Florida, and Georgia. The indictment accuses Menard of stealing more than $600,000 from 11 investors over a three-year period. According to the New York Attorney General’s Office, Menard is not registered to offer or sell securities but solicited investments by claiming he was a highly successful trader capable of generating returns up to 20 percent per month.
Attorney General Letitia James stated, “Marc Henry Menard took advantage of Haitian New Yorkers, lied to them about his experience as a successful trader, and swindled hard-working people out of hundreds of thousands of dollars. Menard treated himself to luxury vacations and shopping trips at his victims’ expense, and now we are bringing him to justice. I encourage all New Yorkers to take caution when making investments and report any suspicious offers to my office.”
The investigation led by the Criminal Enforcement and Financial Crimes Bureau found that from July 2020 through June 2023, Menard solicited members of the Haitian community in several counties across New York as well as in Florida and Georgia. He promised monthly returns between 12 and 20 percent, with higher rates offered if investors recruited others. The probe revealed that after receiving funds, Menard deposited some money into his personal trading accounts for high-risk trading strategies such as day trading and options trading. These activities resulted in losses exceeding $670,000 between July 2021 and October 2022.
Menard also reportedly used investor funds for personal expenses including travel to Turkey, Puerto Rico, Disney World, purchasing luxury vehicles like a Mercedes-Benz and BMW, as well as shopping at high-end retailers Louis Vuitton and Gucci. To maintain confidence among investors, he allegedly presented fake documents showing inflated account balances.
The indictment unsealed in Nassau County Supreme Court charges Menard with multiple counts including Grand Larceny in the Second Degree (class C felony), Grand Larceny in the Third Degree (class D felony), Securities Fraud under the Martin Act (class E felony), Falsifying Business Records (class E felony), and Scheme to Defraud (class E felony). If convicted on the top count charged, he faces up to five to fifteen years in prison.
Menard was arrested in Sunrise, Florida before being arraigned in Nassau Supreme Court where he was released under conditions including weekly reporting requirements and surrendering his passport.
Attorney General James emphasized caution when considering investment opportunities: do not send money or cryptocurrency to unvetted individuals; be wary of those pressuring withdrawals from retirement accounts or urging loans; avoid promises of higher profits for recruiting others; never rush into investments; verify professional registration via FINRA’s BrokerCheck; consult legal or financial advisors; trust your instincts regarding offers that seem too good to be true; and report suspected fraud while preserving communications for law enforcement.
Anyone who believes they may have been victimized is encouraged by Attorney General James’s office to file a complaint online or call their hotline at 1-800-771-7755.
Attorney General James acknowledged assistance from the Financial Industry Regulatory Authority (FINRA), Sunrise Police Department, Broward County State Attorney’s Office in Florida, Nassau County District Attorney’s Office, as well as various analysts and investigators within her own office.
