Miami, Florida – Isaac Grossman, 46, of Parkland, Florida, pled guilty today to wire fraud, mail fraud, and money laundering charges, for directing an elder fraud scheme in which he sold stock in his South Florida-based technology company to elderly investors across the country, and then misappropriated the investors’ funds for his own personal use.
During a hearing this morning in federal district court in Ft. Lauderdale, Grossman admitted that from September 2014 through April 2018, he raised approximately $2.4 million in investor funds for his company, Dragon-Click Corp., by soliciting investments from elderly retirees nationwide. Grossman told potential investors that Dragon-Click was developing an internet application that would revolutionize internet shopping by allowing a user to upload a photograph of any item the user wanted to purchase, identify all retailers offering that item for sale, provide price comparisons for that item across retailers, and provide a link to retailers’ websites where the user could purchase the item. Grossman admitted that he solicited funds by falsely telling potential investors they would double, triple, or quadruple their investments, and that Dragon-Click was on the verge of being sold to a large technology company, such as Google, Apple, or Amazon, for over $1 billion. He concealed from investors that, prior to raising funds for Dragon-Click, he had been permanently barred by the Financial Industry Regulatory Authority…
