A con man who was convicted twice in New York for bilking victims out of millions of dollars through financial fraud schemes has been charged with 18 felony counts for allegedly running a similar scam locally, with Los Angeles County District Attorney George Gascón calling him “a predator.”
“This man has no boundaries that he will not cross to scam you,” she said. “Literally, he will go to your child's birthday, your brother's funeral and hold your baby and say that everything's gonna be okay and ‘I'm doing this for you.’ It took him months to actually pull off the scam with me. I think he worked on me for about six months so it's not an overnight thing.”Bloom was arrested around 4 a.m.
Prosecutors allege that Bloom convinced the alleged victims to give him money in exchange for investments and other financial opportunities and that he never delivered on the investments and failed to return the bulk of the money.“I absolutely believe there may be more victims,” Gascón said, noting that the case remains under investigation by the Los Angeles Police Department.
Bloom, once dubbed a Wall Street whiz kid, pleaded guilty to mail and securities fraud in New York in 1988 and was sentenced to eight years in federal prison for convincing people to give him financial investments totaling more than $15 million, but he instead spent the money on himself, The Times reported.
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