Florida Man Arrested for $600K Fraud Targeting Haitian Investors

A Florida man, Marc Henry Menard, has been arrested for allegedly swindling over $600,000 from 11 investors, mainly from Haitian communities in New York, Florida, and Georgia. Menard touted monthly returns between 12% and 20% and used victims' funds for personal expenses, including luxury vacations and shopping trips. He was indicted on 24 counts, including grand larceny and securities fraud, and faces up to 15 years in prison if convicted.

A Florida man, Marc Henry Menard, has been arrested for allegedly swindling over $600,000 from 11 investors, primarily from Haitian communities in New York, Florida, and Georgia. Menard, who was not registered to sell securities, promised monthly returns of between 12% and 20% to investors. However, he used the funds for high-risk trading and personal expenses, including luxury vacations and shopping trips [1].

The New York Attorney General's Office announced Menard's arrest and indictment on 24 counts, including grand larceny and securities fraud. Menard allegedly targeted Haitians in Nassau, Suffolk, Rockland, and Queens Counties, as well as Florida and Georgia, between July 2020 and June 2023 [1].

Menard's scheme involved soliciting investments and transferring funds into his personal trading accounts. He engaged in risky trading options, including day trading and options trading, resulting in losses totaling over $670,000 between July 2021 and October 2022. Additionally, he used hundreds of thousands of investors' dollars to repay prior investors and for personal expenditures, including trips to Turkey, Puerto Rico, and Disney World, and purchases at luxury retailers such as Louis Vuitton and Gucci [1].

To maintain the scheme, Menard provided investors with fake ATM receipts and trading screens, which showed inflated account balances and net values. However, the investigation revealed that Menard's highest net trading account value was $240,000, and the highest bank account balance was $301,000 [1].

Menard was released with weekly reporting requirements, ordered to surrender his passport, and is not allowed to travel outside New York and Florida pending trial. If convicted of the top charges, he could face up to 15 years in prison [1].

The Securities and Exchange Commission also charged Menard in June 2023, alleging he defrauded at least 50 individuals, mainly from the Haitian community, of at least $1.65 million [2].

The Attorney General's Office recommends that investors take caution when making investments and report any suspicious offers to their office. They advise not to wire money, send cryptocurrency, or give cash to individuals you don't know and haven't vetted, and to be suspicious of individuals who pressure you to withdraw from retirement accounts or borrow money from friends/relatives [1].

References:
[1] https://ag.ny.gov/press-release/2025/attorney-general-james-announces-arrest-florida-man-investment-fraud-scheme
[2] https://www.wealthmanagement.com/wealth-management-industry-trends/florida-man-arrested-for-600k-fraud-scheme-targeting-haitian-investors