Syosset Broker Charged in $111K Trust Fraud

A Syosset stockbroker faces forgery and grand larceny charges after police say he fraudulently transferred $111,000 of a client's living trust money into his own account.

Police said Brian Bond, 41 of Syosset, while in charge of a victim's two brokerage accounts, began transferring the victim's money into his own JP Morgan Chase bank account. Bond, then a branch manager and partner at Newbridge Securities, also claimed he was the sole trustee of a living trust in the name of the victim and his wife, police reported. Bond allegedly presented the bank with forged documentation stating he was the only person allowed access to the account's funds and information, cops said.

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The victim lost $111,000 to date as a result of the the fraud, police reported. The fraud is reported to have taken place between May 2011 and January 2012.

Bond is charged with second degree grand larceny, second degree forgery, and 12 counts of second degree criminal possession of a forged instrument. Bond will be arraigned Thursday at First District Court in Hempstead.