Litigation

Philip Barry, the Brooklyn Ponzi punk who allegedly bilked more than 800 people of their life savings after promoting himself as a financial adviser, has now filed a libel suit against the Securities and Exchange Commission ("SEC") over accusations that, among other things, he ran a mail order porno business with investor money.

I continue to be amazed that The Daily News assigns such a high level of respect to Philip Barry that it dubs him "Brooklyn's Bernie Madoff"*.  With all due respect to his victims and the financial losses they have suffered, Barry couldn't hold Madoff's jock. Furthermore, Bernie Madoff had dozens of victims tied to Brooklyn too, like Louise Crawford's Dad! 

If the media feels it appropriate to honor a Brooklyn "hood", how about Al Capone? Benjamin Siegel?  East New York, or Bay Ridge?

 
Old Scarface was born in Brooklyn

How we covered the story last year:

 "Dirty Barry" Smokes Brooklyn Investors in Brooklyn Ponzi Scheme  September 9, 2009

* Daily News Sept. 10, 2010 p 30