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Beware of people on dating apps that offer too good investment opportunities.
This is a message from the New York City District Attorney’s Office, which recently indicted Lothario for lying and alleging he defrauded lovers by the millions.
Nelson Counne, also known as “Nelson Roth” or “Justin Roth,” was indicted in a Manhattan court after claiming more than $1.8 million from five women through a string of romance and investment fraud.
“He falsely claimed he had a romantic interest while using the funds to repay past victims, lure new victims and fund his lifestyle. He allegedly lied to women and lured them into investment opportunities that didn’t exist,” said Alvin L. Bragg, Jr.
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dating for dollars
According to the indictment, 69-year-old Counne met most of his victims through an online dating site and posed as a wealthy retired art dealer and investor with homes in London, Manhattan and the South of France.
In fact, Counne does not own a home and has never traveled abroad. I don’t even have a passport. His only source of income was the money he stole from his lover between 2012 and his 2021.
The fraud was carried out as follows. After winning the love and trust of her victims, Counne persuaded many of them to invest. He never shared details of his business dealings, claiming that his investments were in the “gray area between legal and illegal” and that he had access to inside information.
His bogus investments included Alibaba and a startup allegedly run by a former Google executive.
According to a press release from the Manhattan District Attorney’s Office, “Most of the victims were hesitant at first, but Counne persevered until each agreed to invest.
Ponzi scheme
The DA alleges Counne ran a typical Ponzi scheme, using money from one of his marks to pay for another. This allowed him to appear wealthy to new victims and to repay previous victims suspected of fraud.
Counne is currently facing first-degree fraud conspiracy, second-degree grand theft, and third-degree grand theft charges.
Romance scams like this are not uncommon. In 2021, nearly 24,000 victims are reported to have lost about $1 billion to romance scams. According to the FBI.