Rocky Point Man Scams Investors Out Of More Than $700K: Police

SHIRLEY, NY — A Rocky Point man was arrested Wednesday in Shirley and charged with scamming 16 investors out of more than $700,000 over the past year and a half, police said.

According to Suffolk County Police, Matthew Gallagher, 37, was arrested at the Seventh Precinct on William Floyd Parkway and charged with investment fraud.

Gallagher used investment schemes in fraudulent startup business ventures and insurance-related scams between November 2019 and this April, police said.

Gallagher was charged with two counts of first-degree scheming to defraud, six counts of second-degree grand larceny, eight counts of third-degree grand larceny, four counts of first-degree identity theft, six counts of issuing a bad check, and one count of third-degree attempted grand larceny, police said.

Gallagher is being held at the Seventh Precinct and is scheduled to be arraigned Thursday, police said.

Anyone who has additional information or who believes they may have been impacted is asked to call Seventh Squad detectives at 631-852-8752.