A couple in New Port Richey, Florida sadly reports that she and her husband gave their $40,000 to a man they thought they can trust and mistakenly thought was a stock broker. Lynn Gagny said, “He talks like he’s a stock broker. He seems like he knows what he’s talking about.”
The man that Mrs. Gagny was talking about was Michael Motola. The Gagny couple met him at Sportszone2 where both their sons were in the same team on the roller-hockey team. Apparently, Motola showered them with promises of big returns.
Gagny explained, “Our money was in stocks in Edward Jones and every month, we were losing. They were making money, but we were losing. He even went down there and showed us how to get the money.”
Motola only gave one installment payment worth $531.66 and never added another cent to it. The Gagny’s said that he became more difficult to reach or contact.
According to an investigation made by the Pasco County Sheriff Office, this wasn’t the first time that Motola defrauded his victims. There were also several other people who gave their huge amounts of money to Motola which totals up to $800,000 to date. Those are the reported cases.
The Sheriff’s Office still continues to receive calls from different people who complained about Motola’s fraudulent act, and because of this, the numbers can even go beyond a million dollars.
You can say he used his children to get the trust from his victims. Enrolling them in different youth sports leagues was his way to meet his ‘potential’ client-victim. Michael Motola was finally arrested on Wednesday, March 23 and was charged with organized fraud.
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