New York Attorney General Letitia James announced the arrest and indictment of Florida resident Marc Henry Menard, formerly of Mineola, New York, for allegedly running a multi-year investment fraud scheme that defrauded members of the Haitian community across New York, Florida, and Georgia. Menard is accused of stealing more than $600,000 from 11 investors, using their funds for luxury purchases, lavish trips, and risky trading losses.
Menard, who was not registered to sell securities, allegedly claimed to be a highly successful trader capable of generating monthly returns of up to 20 percent. Instead, investigators say he funneled the money into his personal trading account, where high-risk day trading and options trades resulted in losses exceeding $670,000. Menard also reportedly spent hundreds of thousands of dollars on personal expenses, including trips to Turkey, Puerto Rico, and Disney World, and purchases of a 2021 Mercedes-Benz, a 2022 BMW, and designer goods from Louis Vuitton and Gucci.
“Marc Henry Menard took advantage of Haitian New Yorkers, lied to them about his experience as a successful trader, and swindled hardworking people out of hundreds of thousands of dollars,” said Attorney General James in a press release. “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.”
According to the investigation by the Office of the Attorney General’s Criminal Enforcement and Financial Crimes Bureau (CEFC), Menard operated Marcotech LLC between July 2020 and June 2023, targeting individuals in Nassau, Suffolk, Rockland, and Queens Counties, as well as Florida and Georgia. He allegedly promised higher returns to investors who recruited others, and provided fabricated evidence of wealth, including fake ATM receipts and trading screens showing inflated balances. In reality, Menard’s accounts never exceeded $301,000.
Menard faces a 24-count indictment in Nassau County Supreme Court, including multiple counts of Grand Larceny, Securities Fraud under the Martin Act, Falsifying Business Records, and Scheme to Defraud. Arrested in Sunrise, Florida, he was arraigned before Judge Tammy Robbins and released under conditions requiring weekly reporting and surrender of his passport, with travel restricted to New York and Florida. Conviction on the top charges could carry 5 to 15 years in prison.
Attorney General James advised New Yorkers to exercise caution when investing, emphasizing the importance of verifying registration, avoiding high-pressure solicitations, and consulting trusted legal or financial advisors. She also encouraged anyone who believes they may have been a victim of fraud to file a complaint with the OAG online or call 1-800-771-7755.