NY Man Arrested for Stealing $100K for Investment from Individuals

A New York man was arrested after he allegedly stole funds from individuals, promising “a guaranteed large return.”

Michael Dantoni, 56, of New York, was arrested after he allegedly “convinced four individuals to give him funds in excess of $100,000 for the purchase of goods’’ that would be exported out of the county, Bergen County Prosecutor John L. Molinelli said. Though Dantoni promised the individuals “a guaranteed large return on the investment, the goods were never acquired and the overseas buyers were non-existent.”

On Nov. 19, the Honorable Adriana Wos-Mysliwiec, J.M.C. authorized a complaint warrant for Dantoni and charged him with one count of theft by deception.

Bail will be set upon Dantoni’s extradition to Bergen County.