Police in Quincy, Massachusetts, Seek Suspect in Multiple Ponzi-Like Schemes - NECN


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Police in Quincy, Massachusetts, Seek Suspect in Multiple Ponzi-Like Schemes



    Man Accused of Bilking Investors in Real Estate Deal

    Authorities say the man accused of scamming real estate investors in Massachusetts is wanted in multiple other scams across the country. (Published Wednesday, Sept. 21, 2016)

    Authorities in Massachusetts are looking for a man wanted in connection to Ponzi-like schemes across the country.

    Quincy Police have issued a warrant for the arrest of Scott Wolas on charges of larceny, embezzlement and identity theft.

    The department notes that Wolas has active warrants for similar charges out of New York and Alabama.

    In Quincy, authorities say Wolas deceived around 16 people out of a combined $1.65 million.

    Wolas also allegedly goes by the names Eugene Grathwohl, Frank Amolsch, Drew Prescott, Allen Lee Hengst and Robert Francis McDowell.

    The Boston Globe reports that under the Grathwohl alias and working at a Quincy Century 21 office, Wohl raised money from investors to buy and reform what was once the Beachcomber bar, then vanished. Victims tell the Glboe he would get close with them, joining them for drinks and holiday dinners.

    The Globe also reports the suspect allegedly defrauded clients for more than $6 million in Florida as a stockbroker going by the Hengst moniker. Before that, according to the report, Wolas worked as a lawyer for Hunton & Williams in New York, where he was investigated by the Securities and Exchange Commission in a $20 million fraud case. He was indicted and has been a fugitive there ever since.

    Police say Wolas was seen on Sept. 15 at the UMass/JFK MBTA station.

    Anyone with information is asked to call Quincy Police.

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