(NY Daily News) A Long Island fraudster is expected to plead guilty to fleecing a wealthy couple out of $1.25 million they thought he was investing in the construction of a pediatric hospital in Queens.
Guyanese, Rudolph (Rudy) Carryl was originally charged last year in California by the feds, but has agreed to the transfer of his case to the Eastern District of New York where he will plead guilty to wire fraud, according to court papers filed Monday.
Carryl, the founder of Carryl Capital Management in Manhattan, allegedly solicited Robert and Barbara Jaffee of Los Angeles to invest in developing a pediatric facility at Long Island Jewish Hospital that he claimed would yield “handsome returns,” court papers state. No such investment fund ever existed.
Carryl admitted he spent the money to repay his debts and for personal expenses. It was a “very stressful period with depression. I think they call it bi-polar depression,” he told the feds, but “I’m not making any excuses,” according to the court papers.
Carryl, of Oyster Bay, L.I., is a graduate of the University of London, CCM’s website states. He is free on $2 million bail.
Defense lawyer Randi Chavis declined to comment. The Jaffees’ civil suit is proceeding in Los Angeles Federal Court.