Gangemi, Frank
Disbarred Lawyer, Frank Gangemi bilked clients out of $2 million
Kings County DA Press Release - February 14, 2003
Kings County District Attorney Charles J. Hynes today announced the conviction of Frank Gangemi , 39, a disbarred Bay Ridge lawyer, for scamming 20 elderly victims out of their life savings. Gangemi pled guilty to nine counts of Grand Larceny in the Second Degree and eight counts of Grand Larceny in the Third Degree before Judge Neil Firetog in Part 10 of the Kings County Supreme Court.
Gangemi is ordered to repay his victims. They may also receive reimbursement from the Lawyer’s Fund for Client Protection. Gangemi swindled his clients out of $2 million by using various schemes including forgery, check fraud, and mortgage and investment scams. He promised his clients that he would invest or appropriate their money. Gangemi even stole $600,000 from a 90-year old man when he cashed his life-insurance policy, sold his Miami Beach apartment, and stole from his bank account. In another case, Gangemi wrote a bad check to a client following a $150,000 settlement.
An investigation was initiated in 2001 when two unrelated victims brought separate complaints to the District Attorney’s Office. It was found that Gangemi, who worked for his father’s law firm, had started this scheme in 1998. Gangemi was arrested on March 20, 2002, and forced to resign from the Bar.