Rockland Investment Broker Pleads Guilty to Fraud Charges
A Rockland investment broker has admitted to committing fraud, impacting Westchester investors. This case highlights the risks in low-risk investment schemes.
Investment Broker Admits to Fraud
In a significant legal case for Westchester residents, William D. McKenzie, a Rockland County investment broker, has pleaded guilty to fraudulent practices. McKenzie, who represented himself as a low-risk investment advisor, defrauded his clients out of approximately $1.5 million, promising guaranteed returns that never materialized.
Details of the Fraud
As part of his fraudulent scheme, McKenzie persuaded investors to trust him with their money, claiming to offer secure investments. However, rather than investing their funds as promised, he diverted the money for personal expenses and other unauthorized uses. This deceptive conduct ran from 2018 until his arrest in late 2025.
McKenzie has been charged with multiple counts of fraud, and his plea includes an agreement to forfeit various assets, including a luxury vehicle and real estate properties acquired with the illicit gains. The court proceedings reveal the vulnerabilities in investment practices, particularly for those seeking low-risk options.
Impact on Investors
This case serves as a cautionary tale for residents of Westchester County, emphasizing the need for due diligence when considering investment opportunities. With many investors seeking safe and reliable returns, scams like McKenzie’s expose the importance of verifying the legitimacy of investment brokers. Authorities encourage anyone who may have been impacted to come forward and report their experiences.
