WHITE PLAINS, NY — A New York investment manager will be spending time behind bars and another will be on probation after being sentenced for their involvement in a nearly decade-long Ponzi scheme.
Attorney General Letitia James announced Thursday that James Doyle, 74, of White Plains, was sentenced to five years’ probation, and Carl Carro, 61, of Walton, Delaware County, was sentenced from four to eight years in prison.
As part of their sentences, the pair agreed to pay a total of more than $1 million in judgments to the victims of their scheme.
James said Doyle pleaded guilty in July 2021 to second-degree money laundering and first-degree scheme to defraud, felonies. Carro pleaded guilty in October to second-degree money laundering, securities fraud under the Martin Act, first-degree scheme to defraud and repeated failure to file personal income tax returns, all felonies.
She said New Yorkers deserve the peace of mind of knowing that when they make an investment with their hard-earned money it won’t be stolen by shameless fraudsters.
“For nearly a decade, Carl Carro and James Doyle pocketed more than $1 million from investors who trusted them with their funds,” James said. “My office will always work to protect the interests of New Yorkers and ensure anyone seeking to take advantage or violate state laws is held accountable.”
According to prosecutors, Carro and Doyle solicited investments in their companies, Endeavor Management Solutions and Endeavor Consultancy, from…
