A Westchester County man and his business partner have been sentenced for their roles in a nearly decade-long $1-million Ponzi scheme.
White Plains resident James Doyle, age 74, and Carl Carro, age 61, of Walton, Delaware, were convicted of defrauding investors in New York and throughout the nation.
On Thursday, Jan. 12, Carro was sentenced to four to eight years in prison, and Doyle was sentenced to five years probation, New York Attorney General Letitia James announced.
As part of their respective sentences, Carro and Doyle agreed to pay a total of more than $1 million in judgments to the victims of their scheme.
Carro pleaded guilty in October 2022 to the following:
- Second-degree money laundering (Class C felony),
- Securities fraud under the Martin Act (Class E felony),
- First-degree scheme to defraud (Class E felony),
- Repeated failure to file personal income tax returns (Class E felony).
Doyle pleaded guilty in July 2021 to:
- Second-degree money laundering (Class C felony)
- First-degree scheme to defraud (Class E felony).
In January 2021, both Carro and Doyle were arrested and charged with multiple crimes for their roles in the Ponzi scheme. Last May, Carro was charged for failing to pay more than $75,000 in New York state taxes over a six-year period.
As outlined in the criminal complaints:
Carro and Doyle solicited investments in their companies, Endeavor Management Solutions, and Endeavor Consultancy, from more than 50 individuals in New…
