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142:(SEC) accused Bloom of using his unregistered investment business to collect over $ 10 million between 1985 and 1988 from over 140 clients for his personal gain. Instead of making investments on behalf of his clients, Bloom was accused of acquiring art, real estate and other personal assets with his clients funds.
190:
In 2000, federal prosecutors in
Manhattan accused Bloom of grand larceny and scheming to defraud at least 10 workers at a Manhattan restaurant out of between $ 50,000 and $ 200,000. Bloom claimed to own a money management company and offered to invest his victim's money in the stock market and gift
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Bloom settled with the SEC without admitting guilt and agreed to hand over all his assets to a court-appointed receiver. He also was barred for life from the securities industry, including association with any broker, dealer, investment adviser, investment company, or municipal securities dealer.
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called Bloom a predator, and accused him of committing crimes between 2021 and 2023, stealing nearly $ 250,000 from nine alleged victims. He was being held on $ 505,000 bail in Los
Angeles which was lowered to $ 100,000 at his arraignment. Under the current charges, he faces up to 14 years in
168:. Bloom pleaded guilty, waiving indictment, to one count each of mail and securities fraud. He was sentenced to eight years in prison for defrauding investors of almost $ 15 million. Bloom served 5 years out of his 8-year sentence, at the
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Two days after his settlement with the SEC, Bloom was charged by federal prosecutors in
Manhattan for violations of the registration and antifraud provisions of the
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8 years in prison in 1988, forfeiture of US$ 13 million, lifetime ban from securities industry, 5 years in prison in 2000
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He pleaded guilty to the charges of grand larceny and scheming to defraud and was released in 2006 on parole.
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Bloom's parents were later sued for $ 191,250 that Bloom spent on them, and they settled for $ 30,000.
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He was arrested in June 2000, did not post the $ 75,000 bail set and instead was incarcerated in the
707:"'Wall Street Whiz Kid' charged with running financial scams out of L.A. bars and luxury apartments"
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On 28 August 2023, Bloom was arrested again and this time was charged with 18 felony counts: 9 for
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247:"Consultant, 23, Faces Charge of Mail Fraud : Unregistered Adviser Could Get 5-Year Term"
175:
Due to Bloom's young age at the time of his criminal activity, the press referred to him as a
667:"'Wall Street Whiz Kid' charged with defrauding victims out of nearly $ 250K in L.A. County"
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8:
460:
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647:"How a twice-convicted con artist went from scamming Manhattan elites to L.A. dive bars"
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687:"'Wall Street Whiz Kid' David Bloom charged with running financial scams in LA County"
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416:"SEC Charges 23-year-old investor with diverting $ 8 million of client's funds"
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270:"New Yorkers & Co.; Young Name Dropper Wins Riches, and a Date in Court"
727:"Convicted NY serial scammer accused of targeting victims in Los Angeles"
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On 9 August 2022, Bloom was arrested on suspicion of 12 counts of
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562:"Parents of Wall Street Whiz Kid Sued for Money He Spent on Them"
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Bloom grew up on the Upper East Side of
Manhattan and attended
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who defrauded investors of almost $ 15 million in the 1980s.
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U.S. Securities and
Exchange Commission Annual Report 1988
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David P. Bloom outside court in New York, December 1988
626:"High-Class Grifter David Bloom Gets Pinched … Again"
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I.P.O.'s. However, Bloom spent the funds on himself.
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502:"'Wall St. Whiz Kid' Given Stiff 8-Year Prison Term"
396:"Ersatz whiz kid to sell assets to settle SEC case"
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434:"'Whiz Kid,' 23, Pleads Guilty to Securities Scam"
126:where he graduated in 1982. After graduating from
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145:Notable investors in Bloom's scheme included the
773:American people convicted of mail and wire fraud
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523:"Wall St. 'Whiz Kid' Gets 8-Year Term for Fraud"
336:"Lush Life: Investor, 23, Named in Huge Fraud"
378:"Investor, 23, Charged in $ 10 Million Fraud"
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224:and 9 for grand theft. The district attorney
217:in Los Angeles and he posted $ 45,000 bail.
602:"Convicted Con Artist Accused in New Scam"
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186:Criminal inquiries and conviction in 2000
179:; most often the "Wall Street Whiz Kid".
134:Criminal inquiries and conviction in 1988
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485:U.S. Securities and Exchange Commission
170:Federal Correctional Complex, Allenwood
140:U.S. Securities and Exchange Commission
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582:"Investors in scam to get 44% return"
89:, grand theft and scheming to defraud
547:. Associated Press. August 27, 1991.
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196:Vernon C. Bain Correctional Center
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290:"The story behind the Kid's con"
209:Criminal inquiries in 2022, 2023
768:20th-century American criminals
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610:. July 14, 2000. Archived from
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487:. December 4, 1988. p. 28.
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166:Investment Advisers Act of 1940
541:"Court Upholds Term for Fraud"
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110:is a twice convicted American
16:American fraudster (born 1964)
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456:"SEC Claims Artful Swindle"
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313:"The Whiz Kid Who Wasn't"
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763:American male criminals
587:The News & Observer
366:. New York. p. 48.
420:The Journal News Metro
655:. September 28, 2022.
356:(February 22, 1988).
570:. December 18, 1988.
529:. December 10, 1988.
508:. December 10, 1988.
358:"Rich Kid, Poor Kid"
464:. January 13, 1988.
461:The Washington Post
422:. January 13, 1988.
404:. January 13, 1988.
384:. January 15, 1988.
342:. January 13, 1988.
321:. January 25, 1988.
298:. January 24, 1988.
295:New York Daily News
278:. January 18, 1988.
255:. January 15, 1988.
172:, in Pennsylvania.
70:December 1988, 2000
735:. August 29, 2023.
715:. August 28, 2023.
695:. August 29, 2023.
675:. August 29, 2023.
590:. August 18, 1989.
545:The New York Times
527:The New York Times
382:The New York Times
340:The New York Times
275:The New York Times
155:Rockefeller family
712:Los Angeles Times
652:Los Angeles Times
614:on July 21, 2021.
506:Los Angeles Times
444:. March 31, 1988.
438:Los Angeles Times
252:Los Angeles Times
108:David Peter Bloom
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25:David Peter Bloom
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75:Criminal charge
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138:In 1988, the
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753:1964 births
354:Blum, David
215:grand theft
747:Categories
233:References
198:, part of
153:, and the
151:Bill Cosby
118:Early life
79:Mail fraud
46:David Daly
112:fraudster
630:Observer
363:New York
229:prison.
177:whiz kid
85:, grand
567:AP News
94:Penalty
87:larceny
481:(PDF)
732:ABC7
672:KTLA
318:Time
692:FOX
401:UPI
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