Queens Man Bilked Thousands From Women While In Locust Valley: Police

LOCUST VALLEY, NY — A Queens man bilked thousands of dollars, promising to invest the funds in real estate and stocks for two women while in Locust Valley last July, Nassau police said.

Richard Yasnis, a 42-year-old Jamaica resident, identified himself as a licensed investment advisor and a legitimate representative of Cahill Financial Group, and received around $79,000 from a disabled woman, 53, which was awarded to her from the 911 Victim’s Compensation Fund, according to police.

He also received around $88,000 from a second woman, 77, who cashed in her dead husband's life insurance policy, police said, adding that both women believed their funds would be legitimately invested in real estate and stocks, but he refused to provide documentation and ceased all communication with them.

Further details were not available.

Yasnis was arrested Wednesday on charges of two counts of second-degree grand larceny. He will is scheduled for arraignment on Thursday in First District Court in Hempstead.

It was not immediately clear if he has legal representation.