Suffolk County Police last night arrested a Rocky Point man for scamming investors out of more than $700,000 over the past year and a half.
Following an investigation, Seventh Squad detectives arrested Matthew Gallagher at the Seventh Precinct, located at 1491 William Floyd Parkway in Shirley, at 9:53 p.m. Gallagher used investment schemes in fraudulent startup business ventures and insurance-related frauds to scam sixteen victims between November 2019 and April 2021.
Gallagher, 37, of 6 Rosewood Road, was charged with two counts of Scheming to Defraud 1st Degree, six counts of Grand Larceny 2nd Degree, eight counts of Grand Larceny 3rd Degree, four counts of Identity Theft 1st Degree, six counts of Issuing a Bad Check, and one count of Attempted Grand Larceny 3rd Degree.
Gallagher is being held overnight at the Seventh Precinct and is scheduled to be arraigned on April 29.
The investigation is continuing. Anyone who has additional information or who believes they may have been a victim is asked to call Seventh Squad detectives at 631-852-8752.
A criminal charge is an accusation. A defendant is presumed innocent until and unless proven guilty.
Authority: Geraldine Hart, Commissioner 21-200770 et al.
Suffolk County Police Department RC/0445
