Monsey Mother And Son Accused In $10 Million Ponzi Scheme

NEW YORK (CBSNewYork) — An 80-year-old Monsey woman and her son have been charged with grand larceny after prosecutors said they scammed 75 people of $10 million in a Ponzi scheme.

Rockland County District Attorney Thomas Zugibe says Jeanette and Elliot Berney convinced their victims — mostly neighbors and relatives — to invest in their company, NHI Metals Ltd.

Zugibe said the duo told customers their money would be invested in European “bank notes” or “metal securities.”

Authorities believe the Berneys kept most of the money, paying out only monthly interest payments to some investors.

Prosecutors believe the alleged scheme was launched in 2006 and continued up until this week.

Jeanette Berney has been charged with second-degree larceny. Elliot Berney was also been charged with second-degree larceny. Bail was set at $1 million. He is due back in court on March 15.

  • Christopher McVeigh

    These two loving churchgoing mother and son pray every Sunday at our place of prayer.

    I don’t believe this story.

    • fugazy

      If they had been ripping off anyone else but other jews, the Clintons would have put them on a plan to Israel already.

  • Cuzzy

    Jews ripping off jews! Oy vey!!! f em all!!

    • Ratter

      Call the Clintons in!!!!

  • Anna

    The wig on the woman means… (Take a bloody guess) and the Monsey residence.
    So the religious (speaking for any major religion) yet again are criminals.
    God Schmod

    • Hen Stern

      its not a wig

  • Us

    Of course they’re white. Those people are always stealing.

    • Lydia Youmans Matthews

      Well at least their not “selling”

  • Bill

    What did they do with all that money is what i would like to know,? $10 M is still a lot of dough even today, so if they paid nobody back, and very little interest, then where did it go? and did they think was going to go on forever when nobody was getting any funds returned seen they were running this right up to last week,, very strange,.. maybe they stashed it away in some foreign bank accounts and were planning to do a runner.

  • Schmellma Holes


  • Nick

    Monsey? Full of money changers……

  • Eddie0

    Only 10 million ? They should throw ’em in jail with Madoff and make’em his servants. After all, he is the King of the Ponzi scheme! LOL

  • Billy D

    The love of money is the root . . . .. . . . . .

  • DanTe

    good people. salt of the earth.

  • Mark DuPriest

    “fools and their money are soon parted”
    Before investing, do due diligence, if you do not understand that and know how to do it DO NOT invest!
    Regarding these two criminals recover all pennies stolen and send them away for 15 years, doing everyday at hard labor.

  • Mr Sam

    Greed is as greed does. When will people learn, if it looks too good, it probably is

  • Bartholomew Harte

    These stories are really becoming “Old-Hat”!
    These two have destroyed lives and need to be
    put out of their misery!

  • Anchovia Lutefisk

    Luv the Phil Spector wig on mom.

  • Mr. Armenia

    I’d hit it.

    • Bartsimpson

      I hope you mean as in smack or punch.

blog comments powered by Disqus
Giving Tuesday
Charles Osgood Event

Listen Live