Florida conman who promised his retiree capitalists a world of fortune is accused of spending all of their cash on a million-dollar gambling spree. Last week, Issac Grossman, 37, of Parkland, Florida, was arrested on charges of fraud and money-laundering. It’s believed he spent around $1.3 million of his elderly investors’ cash on luxury items and in casinos.
News Highlights
- Issac Grossman accused of fraud and money-laundering
- Grossman accumulated over $2 million in stolen funds from senior citizens.
- If convicted, Grossman could face up to 20 years imprisonment for his alleged crimes
Isaac Grossman Stole $2.4 Million From Retirees
Isaac Grossman
According to the recent indictment handed out by US Attorney Fajardo Orshan, Grossman fooled many retirees across the country into investing their nest eggs into his bogus Dragon-Click Corporation. It is estimated the fraudster accumulated a shocking $2.4 million in stolen funds between September 2014 and April 2018.
He reeled in his prey with the ruse that Dragon-Click was in the early stages of creating a revolutionary app that would transform the e-commerce marketplace. Supposedly the app would allow customers to receive instant price comparisons from online retailers for specific items. All they needed to do was upload a picture of the product from their phone.
An Uncontrollable Gambling Habit
Baited by the idea that they could quadruple their investments, Grossman’s victims happily handed over their cash without hesitation. They were under the belief that their investments were aiding development. The truth, however, is that the conman was using their life savings to fund his hedonistic lifestyle and insatiable gambling habit.
Grossman was arrested on October 11. He’s held at Broward County Jail awaiting his trial at the end of the month. Though his lawyers are keeping silent about his proceedings, the defendant will plead not guilty when the trial takes place on November 25. If convicted, Grossman could face up to 20 years imprisonment for his alleged crimes.
Always Remember to Gamble Safely
If this news has shown us anything, it is that the older generation is a prime target for people like Grossman. Though justice may prevail this time around, there are many other sharks out there still waiting for the next victim.
For new online casino players, this type of predatorial behavior can be a considerable risk. For older people who may not be aware of the dangers or warning signs of cybercrime, it always helps to have some advice to follow.
Here are some tips on how to stay safe when playing for the first time at an online casino:
Play at Reputable Online Casinos
Always make sure the online casino site you are using is verified and has a solid reputation for security. Top US online casinos such as Bovada, Slots.lv, MyBookie, and BetOnline are highly trustworthy options.
Protect Your Personal Information
If you ever receive a suspicious communication asking for your credit card details or online casino password, never enter any personal information unless you are confident it is authentic. If need be, contact the online casino directly and ask them to confirm the message is from them.
Change Your Password Frequently
Make sure your password is secure by using a mixture of numbers and lower/ uppercase letters. For added security, change your password at least once every month.
Avoid Open WiFi Connections
Try and refrain from accessing your online casino account and payment information via an open WiFi connection. Sometimes these networks can be insecure. Using public WiFi increases the risk of third parties stealing your information.
