Man Stole From Mom, Exes, Veteran, Hudson Valley Ski Patrol
A man who stole from ski patrol in the Hudson Valley, his own mother, ex-girlfriends and a military veteran received a lengthy prison sentence.
On Tuesday, New York State Attorney General Barbara D. Underwood announced the conviction of Franklin S. Marone, 55, of Queens for multiple schemes to defraud; including falsifying financial disclosures to avoid paying restitution to victims from a $5.4 million securities fraud scheme in which he was previously convicted and stealing over $360,000 from his now 89-year old mother, multiple ex-girlfriends and a military veteran.
Between November 1998 and January 2004, Marone, a former stockbroker, targeted his fellow members of the ski patrol at a Catskills mountain resort and fraudulently solicited them to invest over $5.4 million in a series of fictitious equity funds that he dubbed “Patrollers Capital Funds.”
In reality, all of the investors’ money was deposited directly into Marone’s personal accounts. On June 22, 2004, Marone was convicted in Greene County Court on two counts of grand larceny and scheme to defraud. He was sentenced to 6 to 18 years in state prison and ordered to pay over $4.6 million in restitution to his victims.
Marone began missing his court-ordered restitution payments after he was released on parole in early 2014. After continued failure to make timely payments, a Greene County judge ordered a restitution hearing and directed Marone to complete financial disclosure affidavits.
In July and August 2017, in an effort to conceal his assets and income and to avoid paying restitution, Marone filed two financial affidavits with the court, claiming he had no assets and minimal income, officials say.
Officials soon learned that Marone failed to pay restitution to his 29 prior victims and he was sentenced to prison for not paying restitution.
“After previously being convicted of fraud, the defendant has shown zero remorse for his victims – and a complete disregard for the law,” Attorney General Underwood said.
In separate schemes, Marone confessed in Queens Supreme Court he stole over $360,000 from his now 89-year old mother, multiple ex-girlfriends and a military veteran.
“This individual stole millions from his victims, including his own mother and showed no remorse throughout," New York State Police Superintendent George P. Beach II said.
Marone’s combined sentencings in Greene County Court and Queens Supreme Court will result in a total state prison term of 10 to 29 years.
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