Man Allegedly Forged Checks And Ran Securities Fraud Scheme
WOBURN – Middlesex District Attorney Marian Ryan has announced that Beryl Porter, 59, of Waltham, was arraigned today on charges of securities fraud, money laundering, larceny over $250 from a person over the age of 60, larceny over $250 dollars (6 counts), uttering forged checks (4 counts) failing to appear in court (2 counts), and being a common and notorious thief.
Middlesex Superior Court Clerk Magistrate Michael Sullivan set bail for Porter at $15,000 cash and scheduled the next court hearing for Porter for Thursday, July 2.
“This man is accused of taking advantage of people who were known to him,” said District Attorney Ryan. “They put their faith in him and he allegedly used that for his own selfish interests. He reportedly went to great lengths to create paperwork which looked official, to spin a tale of a good financial investment, and to use access to people he knew well so he could forge checks.”
Authorities say Porter used a securities fraud scheme and wrote a series of forged checks to steal more than $82,600 from five individuals, including a senior citizen, a girlfriend, neighbor, member of his synagogue, and a former employer.
The fraud allegedly began in 2010 when Porter reportedly solicited and obtained thousands of dollars in investments in, and loans for, a company he claimed he formed. The victims in this case were allegedly provided with documents that purported to be “partnerships agreements” which contained false information about who was investing, what the investment amounts were, stock certificates, and a “guarantee” that investors could get their money back upon demand. Once investors provide the money, Porter allegedly deposited the funds into a bank account for his personal use.
In addition to the alleged investment fraud, Porter is accused of forging checks beginning in 2013. In one situation, he reportedly deposited into his account a $9,000 forged check payable to himself drawn on his girlfriend’s account. In another situation, Porter is accused of forging a check worth $20,000 to pay someone whose family had given Porter money in Porter’s alleged securities fraud scheme.
Porter’s alleged activities since 2010 resulted in four criminal complaints against him in the Cambridge and Waltham District Courts where he was released on bail yet failed to appear as required. He was indicted by a Middlesex County Grand Jury on May 28, 2015.
These charges are allegations and the defendant is presumed innocent until proven guilty.
The prosecutor assigned to this case is Assistant District Attorney Graham Van Epps. The Victim Witness Advocate is Andrew Laurenzano.